China's PPI up 4.6 pct in July

Source: Xinhua| 2018-08-09 11:28:16|Editor: ZX
Video PlayerClose

BEIJING, Aug. 9 (Xinhua) -- China's producer price index (PPI), which measures costs for goods at the factory gate, rose 4.6 percent year on year in July, the National Bureau of Statistics (NBS) said Thursday.

The July growth slowed slightly compared with the 4.7-percent rise in June.

NBS statistician Sheng Guoqing said the carryover effect accounted for 3.9 percentage points in the PPI growth.

On a month-on-month basis, producer prices went up 0.1 percent in July, according to the NBS.

Factory prices of production materials grew 6 percent year on year, contributing 4.5 percentage points to the overall PPI growth. Those of consumer goods climbed 0.6 percent year on year.

Of all industrial sectors, producer prices in oil and natural gas exploration surged 42.1 percent year on year, 9.4 percentage points faster than the previous month. Oil, coal and other fuel processing posted a 24.6-percent increase in producer prices.

Ferrous and nonferrous metal smelting and pressing saw slower producer price growth.

The NBS data also showed that China's consumer price index, a main gauge of inflation, rose 2.1 percent year on year in July.