China June factory gate prices ease slightly, +8.8% y/y, meet f cast Reuters 6 hrs ago
BEIJING, July 9 (Reuters) - China s factory gate prices rose at a slightly slower pace in June, in line with expectations, official data showed on Friday, while consumer inflation also eased.
The producer price index (PPI) rose 8.8% from a year earlier last month, according to a statement from the National Bureau of Statistics. Analysts in a Reuters poll had expected the PPI to rise 8.8% after a 9.0% increase in May.
The consumer price index (CPI) rose 1.1% year-on-year, the statistics bureau said in a separate statement, compared with a 1.3% rise tipped by the Reuters poll. (Reporting by Liangping Gao, Stella Qiu and Ryan Woo Editing by Shri Navaratnam)
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China inflation eases on the back of falling meat prices Toggle share menu
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China inflation eases on the back of falling meat prices
China s consumer inflation has been driven up in recent years by pork prices after an African swine fever outbreak ravaged stocks. (File photo: AFP/GREG BAKER)
09 Jul 2021 11:16AM Share this content
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BEIJING: China s consumer inflation eased in June on the back of falling pork prices, official data showed on Friday (Jul 9), although factory gate costs remained elevated after a recent surge in commodity prices.
The world s second largest economy has largely bounced back from the coronavirus hit, and factory gate inflation began to ease last month after surging at the highest rate in more than a decade earlier in the year as commodity prices spiked.
Bloomberg News, Bloomberg News A worker stands in front of machine on a yarn production line at the Fujian Strait Textile Technology Co. factory in Putian, Fujian province, China, on Monday, Feb. 8, 2021. China may have got its control of Covid down to a handful of new cases per day, but the restrictions, quarantines and travel curbs to keep it that way have forced millions of factory workers to give up the idea of a traditional family gathering. Photographer: Qilai Shen/Bloomberg , Bloomberg
(Bloomberg) Chinaâs factory inflation eased in June from an almost 13-year high in the previous month as a stronger dollar and government measures helped to cool commodity prices.
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BEIJING (Reuters) - China’s factory gate inflation eased in June after a government crackdown on runaway commodity prices, but the annual rate stayed uncomfortably high and underlined growing strains on the economy as Beijing tries to bolster a post-coronavirus revival.
FILE PHOTO: Copper rods are seen at Truong Phu cable factory in northern Hai Duong province, outside Hanoi, Vietnam, August 11, 2017. REUTERS/Kham/File Photo
The persistently high inflationary pressures in the industrial sector prompted China’s cabinet this week to flag potential policy easing measures, mainly to support smaller firms.
Friday’s data from the National Bureau of Statistics (NBS) showed the producer price index (PPI) increased 8.8% from a year earlier, compared with a 9.0% rise in May, and in line with analysts’ expectations in a Reuters poll.
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