China's PPI down 2.7 pct in February
Robots work on an assembly line of a factory of a private enterprise in Zouping City, east China's Shandong Province, Sept. 13, 2023. (Xinhua/Guo Xulei)
BEIJING, March 9 (Xinhua) -- China's producer price index (PPI), which measures costs for goods at the factory gate, went down 2.7 percent year on year in February, the National Bureau of Statistics said Saturday.
The decrease widened from a 2.5-percent decline in January. On a monthly basis, the PPI edged down 0.2 percent, the data showed.
As industrial production slowed down due to the Spring Festival that fell in February this year, the PPI decline widened, said NBS statistician Dong Lijuan.
Demand for steel and cement dropped in February as construction projects halted during the holiday period, sending the prices of the ferrous metal smelting and rolling industry as well as the cement producing industry down 0.4 percent and 1.4 percent month on month respectively.
The PPI of coal mining and washing industry edged down 0.7 percent month on month in February, compared to a 0.1-percent increase in January, due to decreased heating demand as temperatures rose in the country's northern regions.
China's consumer price index (CPI), a main gauge of inflation, edged up 0.7 percent year on year in February, NBS data showed.
Related articles
Target to lower prices on basic goods in response to inflation
Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inf2024-05-21Martinez homers with two outs in the 9th inning to end Braves' combined no
NEW YORK (AP) — New York’s J.D. Martinez hit a home run with two outs in the ninth inning to spoil a2024-05-21Putin says four gunmen in Moscow terrorist attack arrested
MOSCOW, March 23 (Xinhua) -- Russian President Vladimir Putin said Saturday all four gunmen in the M2024-05-21Xinhua Commentary: Strong spending highlights vitality of China's economy
BEIJING, May 7 (Xinhua) -- China's May Day holiday witnessed a surge in tourism and robust consumer2024-05-21California congressman urges closer consultation with tribes on offshore wind
A congressman who represents California’s north coast has sent a letter to federal regulators asking2024-05-21Pirates add Paul Skenes to their roster ahead of his major league debut
PITTSBURGH (AP) — Paul Skenes is officially a big leaguer.The Pittsburgh Pirates promoted the hard-t2024-05-21
atest comment