China's PPI drops 2.5% YoY, 0.2% MoM in April 2024; CPI up 0.3% YoY
13 May 24 1 min read
Insights
- The producer price index (PPI) in China fell by 2.5 per cent YoY in April, data from the National Bureau of Statistics show.
- The drop narrowed from a 2.8-per cent decline in March.
- PPI edged down by 0.2 per cent month on month (MoM), widening from a 0.1-per cent decrease a month earlier.
- The country's consumer price index rose by 0.3 per cent YoY in April.
PPI edged down by 0.2 per cent month on month (MoM), widening from a 0.1-per cent decrease a month earlier.
Though industrial production continued to recover in April, the demand in some sectors saw a temporary decline, NBS said.
Among the major industries, the PPI of the oil and gas extraction industry increased by 3.4 per cent MoM, while that of the petroleum, coal and other fuel processing sectors rose by 1 per cent MoM in April, according to Chinese media reports.
Coal supply is sufficient, and the demand for thermal coal saw a seasonal decline.
NBS feels the carry-over effect of last year's price movements dragged down the YoY PPI drop by 1.8 percentage points in April.
The country’s consumer price index (CPI) rose by 0.3 per cent YoY in April.
Fibre2Fashion News Desk (DS)
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