Fri, 14 Aug 2020

Update: China's PPI falls 3 pct in June

09 Jul 2020, 15:30 GMT+10

People work at a factory of Baoding Technology Co., Ltd. at Tangqi Town in Yuhang District of Hangzhou City, east China's Zhejiang Province, Feb. 16, 2020. (Xinhua/Xu Yu)

BEIJING, July 9 (Xinhua) -- China's producer price index (PPI), which measures costs for goods at the factory gate, went down 3 percent year on year in June, the National Bureau of Statistics (NBS) said Thursday.

The decline narrowed from a 3.7-percent decrease in May, NBS data showed.

On a month-on-month basis, the PPI rose 0.4 percent last month, compared with a 0.4-percent fall in May.

Market demand continued to improve in June, as prices of international bulk commodities rebounded and the domestic manufacturing sector recovered steadily, said NBS senior statistician Dong Lijuan.

During the first half of the year, the PPI fell 1.9 percent year on year.

The PPI data came along with the release of the consumer price index, which rose 2.5 percent year on year in June, up from the 2.4-percent growth in May. ■

Sign up for Detroit News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!