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China's PPI falls 1.8% in August, CPI rises 0.6%, says NBS

09 Sep '24
2 min read
China's PPI falls 1.8% in August, CPI rises 0.6%, says NBS
Pic: Adobe Stock

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  • China's producer price index (PPI) fell 1.8 per cent year-on-year in August, a sharper decline compared to July's 0.8 per cent drop, driven by weak market demand and lower international commodity prices, according to the National Bureau of Statistics (NBS).
  • Meanwhile, the consumer price index (CPI) rose 0.6 per cent year-on-year in August.
China’s producer price index (PPI), which tracks factory gate prices, dropped by 1.8 per cent year-on-year in August, according to data released by the National Bureau of Statistics (NBS) on Monday. This decline marked a sharper fall compared to the 0.8 per cent decrease recorded in July.

On a month-on-month basis, the PPI slipped by 0.7 per cent in August, expanding from a 0.2 per cent drop the previous month, the data indicated. NBS attributed the decline to weak market demand and a downward trend in prices of certain international commodities.

For the January to August 2024, the PPI averaged a 1.9 per cent year-on-year decrease.

Meanwhile, China’s consumer prices continued to rise in August, reflecting the ongoing recovery in domestic demand. The consumer price index (CPI), a key measure of inflation, increased by 0.6 per cent year-on-year in August, up from the 0.5 per cent rise in July, the NBS reported.

On a month-on-month basis, the CPI climbed by 0.4 per cent in August, slightly down from the 0.5 per cent growth seen in July. NBS attributed the price movements to factors such as high temperatures and frequent rainfall during the summer months.

Fibre2Fashion News Desk (RKS)

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