2024-05-11 04:40:20
Xinhua News Agency | 11. 05. 2024
China’s producer price index (PPI), which measures the cost of goods at the factory gate, fell 2.5 percent year on year in April, the State Bureau of Statistics (BES) said on Saturday.
This fall is lower than the 2.8% recorded in March. On a monthly basis, the PPI fell 0.2%, compared with a 0.1% decline in the previous month, according to the data.
In April, industrial production continued to recover, but demand temporarily declined in some sectors, NBS statistician Dong Lijuan noted.
Among the major industries, the PPI of the oil and gas extraction industry climbed 3.4% month on month, while the oil processing, coal and other fuel sectors increased by 1% from the previous month, as international prices rose. an increase in domestic prices in industries related to oil and non-ferrous metals.
Coal supply is adequate and demand for thermal coal has declined seasonally, resulting in a 3% decline in the mining and coal washing industry PPI in April.
Due to the carryover effect of last year’s price movements, the PPI fell by 1.8 percentage points year-on-year last month, according to Dong.
China’s consumer price index, the main measure of inflation, rose 0.3 percent in April from a year earlier, NES data showed.
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