x

China’s producer prices down 1.5 per cent in March

China’s Producer Price Index (PPI), which measures costs for goods at the factory gate, dropped 1.5 per cent year on year in March, compared with a 0.4 per cent decline in February, the National Bureau of Statistics said Friday.

On a month-on-month basis, the PPI fell 1 per cent last month.

“In the first quarter of 2020, the PPI on average inched down 0.6 per cent from the same period of last year.

“Factory prices of capital goods decreased 2.4 per cent year on year in March, widening from a 1 per cent decline in February.”

Ten of the 40 surveyed industries saw price hikes month on month, while 28 reported price drops and two witnessed unchanged prices.

Among major industries, prices for oil and natural gas extraction saw the fastest retreat in March, plunging by 21.7 per cent year on year.

Prices for processing of oil, coal and other fuel slumped 10.6 per cent year on year, while those of chemical raw materials and chemical products manufacturing went down 5.3 per cent over one year ago in March.

The bureau’s senior statistician, Dong Lijuan, said the carry-over effect of last year’s price movements was almost zero, while new factors contributed entirely to the overall 1.5 per cent drop last month.

Monday’s data also showed China’s consumer price index, a main gauge of inflation, grew 4.3 per cent year on year in March, moderating from 5.2 per cent in February. (Xinhua/NAN)

Hot this week

Emir of Zazzau Faces Two Defamation Suits Over Radio Interview

...Court to Hear Case November 4By Achadu Gabriel, KadunaThe...

ITF Celebrates 54th Anniversary, Pledges More Training for Artisans

By Israel Adamu, JosThe Industrial Training Fund (ITF), Nigeria’s...

RCCG Pastor Urges Men to Embrace Physical Exercise for Greater Productivity

By Achadu Gabriel, KadunaThe Zonal Pastor of the Redeemed...

Tinubu mulls female INEC Chairman to replace Mahmood

By Achadu Gabriel, KadunaAgainst the backdrop of the...

WHO Eyes 2030 As Year For Achievement of Refractive Eye Care For All

By Joyce Remi-BabayejuAs the world marks the 2025...

FERMA Flag-off ‘Operation Safeguard the Road’ in Kogi

By Noah Ocheni, LokojaThe Managing Director/Chief Executive...

Governor Ododo Bags Another National Honour in Education

By Noah Ocheni, LokojaKogi State Governor, Ahmed Usman Ododo,...

Governor Ododo Congratulates Prof. Joash Amupitan SAN on His Appointment as INEC Chairman

By Noah Ocheni, LokojaKogi State Governor, Alhaji Ahmed Usman...

Otuoke University Staff Protest FG’s Failure to Meet Union Demands

By Amgbare Ekaunkumo, YenagoaThe Joint Action Committee (JAC) of...

Delta Exco Approves ₦10 Billion for Pensioners, Reviews Key Infrastructure Contracts

By Anne AzukaThe Delta State Executive Council (EXCO) on...

Related Articles

Popular Categories

spot_imgspot_img