China's August PPI -2.0% y-o-y, CPI up 2.4% y-o-y

[BEIJING] China's factory gate prices fell in annual terms for the seventh straight month in August, but at the slowest rate since March, official data showed on Wednesday, suggesting the country's industries continue to recover from the Covid-19 outbreak.

The producer price index (PPI) fell 2.0 per cent last month from a year earlier, the National Bureau of Statistics said, in line with expectations for a 2.0 per cent decline in a Reuters poll. It fell 2.4 per cent year-on-year in July.

The consumer price index increased 2.4 per cent from a year earlier in August, the statistics bureau said, in line with analyst expectations in a Reuters poll. The index rose 2.7 per cent year-on-year in July.

REUTERS