KONTAN.CO.ID - BEIJING. China's factory gate prices fell at the fastest pace in over seven-and-a-half years in June and missed expectations, while consumer prices were unchanged, as a faltering post-COVID recovery weighed on demand. The producer price index (PPI) fell for a ninth consecutive month, down 5.4% from a year earlier, marking the steepest decline since December 2015. That compared with a 4.6% drop the previous month, and a forecast for a 5.0% fall. The consumer price index (CPI) was unchanged year-on-year, compared with the 0.2% gain seen in May, the National Bureau of Statistics (NBS) said. That was the slowest pace since February 2021 and missed the 0.2% rise expected in a Reuters poll of analysts.
China's Factory Gate Prices Fall at Fastest Pace in 7 Years
KONTAN.CO.ID - BEIJING. China's factory gate prices fell at the fastest pace in over seven-and-a-half years in June and missed expectations, while consumer prices were unchanged, as a faltering post-COVID recovery weighed on demand. The producer price index (PPI) fell for a ninth consecutive month, down 5.4% from a year earlier, marking the steepest decline since December 2015. That compared with a 4.6% drop the previous month, and a forecast for a 5.0% fall. The consumer price index (CPI) was unchanged year-on-year, compared with the 0.2% gain seen in May, the National Bureau of Statistics (NBS) said. That was the slowest pace since February 2021 and missed the 0.2% rise expected in a Reuters poll of analysts.
