China’s producer price index (PPI), reflecting the costs for goods at the factory gate, dropped 4.4 per cent year-on-year (YoY) in July 2023, as per government data. The decrease shows a narrowing from the 5.4 per cent fall observed in June.The July PPI also witnessed a month-on-month (MoM) dip of 0.2 per cent, a reduced decline compared to June’s 0.8 per cent, according to the National Bureau of Statistics (NBS).
Over the first seven months of 2023, the PPI has decreased by 3.2 per cent YoY, signifying an ongoing trend in production cost reductions.
China's PPI dropped 4.4 per cent year-on-year in July 2023, narrowing from a 5.4 per cent fall in June, as per NBS data.
The monthly decrease for July was 0.2 per cent, less than June's 0.8 per cent.
The data reveals a continued trend in production cost reductions, with the PPI decreasing by 3.2 per cent year-on-year over the first seven months of 2023.
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