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

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Governing Council, VC Commended as MOAUM Holds 32nd Matriculation

Ahead of the 32nd Matriculation ceremony of the Rev....

AG Hails Gov Sule’s Global Recognition at Africa Leadership Summit in London

Ask ChatGPT By Abel Zwanke, Lafia The Accountant General of Nasarawa...

Nigerian Leaders Urged to Uphold Democratic Principles, Show Sincerity of Purpose

By Isaac Kertyo, Makurdi Nigerian leaders have been urged to...

Northern Nigeria’s Challenges Are Complex, Deep-Rooted – Bafarawa

…Harps on Peace, Unity, Development in the NorthBy Achadu...

2027: Plateau Youth Leader Rallies Support for President Tinubu’s Re-election

By Golok Nanmwa, Jos Shedrack Mainasara, a youth mobilizer in...

Mangu Mob Attack: 20 Arraigned Over Killing of 12 in Plateau

By Israel Adamu, Jos The Plateau State Police Command on...

Sokoto Govt, AGILE Sensitize on Cash Transfer to Support Girls’ Education

By Muhammad Ibrahim, Sokoto The Sokoto State Ministry for Basic...

Bayelsa Sports Director Urges Youths to Shun Crime, Embrace Sports

By Amgbare Ekaunkumo, Yenagoa The Director of Sports, Bayelsa State...
spot_img

Related Articles

Popular Categories

spot_imgspot_img