Chinese June producer price index rose faster
http://www.chemnet.com Jul 11,2018 Global TimesChina's producer price index (PPI), which measures costs for goods at the factory gate, rose 4.7 percent year-on-year in June, the National Bureau of Statistics (NBS) said Tuesday.
The growth rate beat market expectations of 4.5 percent and was faster than the 4.1 percent rise recorded in May, picking up pace for three consecutive months, according to the NBS data. Month-on-month, producer prices edged up 0.3 percent in June.
Factory prices of both production materials and consumer goods grew faster, up 6.1 percent and 0.4 percent year-on-year, respectively. The former contributed 4.61 percentage points to the total price increase.
NBS statistician Sheng Guoqing said the carry-over effects resulted in a rise of 4.1 percentage points in PPI growth, with the remainder expansion of 0.6 percentage points being generated by new factors.
In the first half of this year, PPI growth increased 3.9 percent from the same period in 2017.
Official data also showed that China's consumer price index, a main gauge of inflation, rose 1.9 percent year-on-year in June.