BEIJING : China's factory-gate inflation eased to its lowest since February 2021, as raw material prices fell due to already slower construction activity, while consumer prices rose gently, bucking the sharp increases seen elsewhere.
The producer price index rose 4.2 per cent year-on-year, the National Bureau of Statistics said on Wednesday, after a 6.1 per cent uptick in June. Analysts had expected an increase in the PPI of 4.8 per cent in a Reuters poll. The consumer price index increased 2.7 per cent from a year earlier, after a 2.5 per cent gain in June. In a Reuters poll of economists, consumer inflation was seen at 2.9 per cent in July.
The world's second-biggest economy has shown some signs of slowdown and narrowly escaped a contraction in the second quarter, weighed by strict COVID-19 controls, a distressed property market and cautious consumer sentiment.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.