China's PPI falls 1.8% in August, CPI rises 0.6%, says NBS

On a month-on-month basis, the PPI slipped by 0.7 per cent in August, expanding from a 0.2 per cent drop the previous month, the data indicated. NBS attributed the decline to weak market demand and a downward trend in prices of certain international commodities.

For the January to August 2024, the PPI averaged a 1.9 per cent year-on-year decrease.

Meanwhile, China’s consumer prices continued to rise in August, reflecting the ongoing recovery in domestic demand. The consumer price index (CPI), a key measure of inflation, increased by 0.6 per cent year-on-year in August, up from the 0.5 per cent rise in July, the NBS reported.

On a month-on-month basis, the CPI climbed by 0.4 per cent in August, slightly down from the 0.5 per cent growth seen in July. NBS attributed the price movements to factors such as high temperatures and frequent rainfall during the summer months.

ALCHEMPro News Desk (RKS)