China's producer price index (PPI), which measures costs for goods at the factory gate, fell 3.6% year on year in April, with the rate accelerating from a 2.5% yearly fall registered in the preceding month, data showed from the National Bureau of Statistics on April 11.
On a monthly basis, the index was down 0.5% from March after maintaining flat for two straight months.
Affected by the unstable global oil prices, China's petroleum and coal price dropped 2.3% month on month. Sufficient supply in the steel and cement industries but weaker-than-expected demand led to a 1% sequential fall in steel industry price. Coal mining and washing prices were also down by 4% with the continued releasement of advanced capacity.
The widened decline on a year-on-year basis was partly due to higher bases in the preceding year and partly because of the decline in domestic and global demand this year.
The consumer price index (CPI) increased 0.1% from a year earlier but fell 0.1% month on month in April
With the continued increase in availability of vegetables and fruit, as well as sufficient capacity of raw pork, their prices logged a 6.1%, 0.7% and 3.8% month-on-month decline respectively. Transportation, hotel accommodation and other travel-related items increased 4.6-8.1% compared with the preceding month due to the May Day holiday.
(Writing by Emma Yang Editing by Harry Huo)
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