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
EMMA COWING: Humza Yousaf's obsession with gender politics showed an absolute contempt for women
First Nicola Sturgeon. Now Humza Yousaf. It is clear to me that there is one core issue that has bro2024-05-01Masterful meals: Masterchef 2010 champion Dhruv Baker's cherry and hazelnut chocolate roulade
Roast pheasant, chocolate roulade and this sublime soup... a new book features spectacular dishes fr2024-05-01I refused to accept my neighbour's parcel
If you've ever become fed up with your doorbell constantly pinging because your neighbours have volu2024-05-01US targets Russia with hundreds of sanctions over Ukraine war, Navalny death
By Daphne Psaledakis and David Brunnstrom, ReutersUS president Joe Biden says sanctions against Russ2024-05-01Astros to option slumping 2020 AL MVP José Abreu to their spring training facility in Florida
HOUSTON (AP) — The Houston Astros will option slumping first baseman José Abreu to their spring trai2024-05-01Rustle these up with Rosemary: Sun
In her new book, chef Rosemary Shrager guides you through tried and tested recipes that she vows wil2024-05-01
atest comment