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China’s PPI up 3.3% in October

Updated: Nov 9,2018 1:38 PM     Xinhua

BEIJING — China’s producer price index (PPI), which measures costs for goods at the factory gate, rose 3.3 percent year-on-year in October, the National Bureau of Statistics (NBS) said on Nov 9.

The growth rate has dropped for four consecutive months.

NBS statistician Sheng Guoqing said the carryover effect contributed 1.2 percentage points to the PPI growth, while new factors contributed 2.1 percentage points.

The prices of the means of production rose 4.2 percent year-on-year, contributing 3.18 percentage points to the PPI growth in October, according to the NBS.

Of major industrial sectors, producer prices in the sectors of chemical raw materials and products, nonmetal mineral products, ferrous metal processing, oil, coal and other fuel processing saw lower growth rate compared with those in September.

Data released on Nov 9 also showed that the PPI rose 0.4 percent in October on a monthly basis, down from 0.6 percent registered in September.

Over the past 10 months, producer prices at the factory gate saw 3.9-percent rise year-on-year.

China’s consumer price index or CPI, a main gauge of inflation, rose 2.5 percent year-on-year in October, unchanged from that in September.

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