China Sees First Factory Deflation in Nearly Three Years
Photo: IC Photo
The country’s producer price index (PPI) dropped 0.3% year-on-year in July, official data showed Friday, marking the first decline since August 2016, when the index fell 0.8%.
The PPI, which tracks the prices of goods circulated among manufacturers and mining companies, posted zero year-on-year growth in June.
The consumer price index (CPI) rose 2.8% year-on-year in July, up from 2.7% in the month before and marking the highest level since February 2018, according to data from the National Bureau of Statistics.
The CPI measures the prices of a select basket of consumer goods and services.
Read the full story on Caixin Global later today.
Contact Reporter Liu Jiefei (jiefeiliu@caixin.com)
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