China’s PPI Drops 0.9% in July

China’s PPI Drops 0.9% in July

According to the National Bureau of Statistics, China's producer price index (PPI) saw a decline of 0.9% year on year in July. China's PPI - used to measure inflation at wholesale level - has declined for 29th month on the trot. The only respite is the rate of decline that has reduced for the fourth consecutive month. It is down from 1.1% in June, 1.4% in May, 2% in April and 2.3% in March.

The narrowing is a clear indication that there have been slight improvements in market situation for industrial products in recent months, said NBS senior statistician Yu Qiumei.

A carryover effect and the country's pro-growth measures could alter the declining trend, said Guan Qingyou, senior analyst at Minsheng Securities' research institute.

The government has taken pro-growth measures to ease the great downward pressure. The measures include improvements in construction of affordable housing, infrastructure building and boost private investment.

The release of the data coincided with the release of consumer price inflation index, which was 2.3% in July. According to the National Bureau of Statistics (NBS), China's consumer price index (CPI) jumped 2.3% in July, which is similar to the pace seen in June.

The figure was lesser than the government's target of 3.5% this year. However, the Shanghai-based E-House China R&D Institute is pleased with the July inflation rate.

"The July inflation rate was in a very comfortable range", said Yang Hongxu, the deputy head of the institution.


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