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

Tinubu tasks Catholic Bishops on national peace and development

By Ogenyi Ogenyi, Uyo President Bola Tinubu has called on...

Bandits Killings: S/Kaduna Kicks as Gov Sani Flags Off Makarfi Rural Roads

By Achadu Gabriel, Kaduna The flag-off of a rural road...

Power Outages: Tinubu Moves To Ensure Reliable Electricity Supply in Tertiary Hospitals

By Joyce Remi-Babayeju President Bola Ahmed Tinubu has made concrete...

Kano Gov Moves to Empower 44 LGAs with Full Autonomy

By Jabiru Hassan Kano State Governor, Alhaji Abba Kabir Yusuf,...

FCTA Vows Increased Commitment To Advance Child Healthcare

By Joyce Remi-Babayeju The Minister of State for the Federal...

Pray for Peace, Development of Nigeria, Mahmoud Urges FCT Christian Pilgrims

By Joyce Remi-Babayeju FCT Minister of State, Dr. Mariya Mahmoud,...

Light Up Abuja Programme: Wike To Flag-Off Construction of New Roads, Light Projects

By Joyce Remi-Babayeju The Minister of Federal Capital Territory (FCT),...

Tinubu tasks Catholic Bishops on national peace and development

By Ogenyi Ogenyi, Uyo President Bola Tinubu has called on...

CSGGG Hails Rivers Sole Administrator’s Leadership

…Says Peace Brokered, Trust Restored…Lauds Transformative Governance, Credits Tinubu’s...

Tribune Abuja Bureau Chief, Dr. Leon Usigbe, Laid to Rest Amid Cries, Tributes

By Joyce Remi-Babayeju The late Tribune Abuja Bureau Chief, Chief...

Breaking: FG Set to Integrate Organ Transplant Services Into NHIA

… To End Unethical Local Organ Transplantation Practices By Joyce...

Atissa Youth Council Urges NDDC to Rescue Famgbe, Obogoro from Erosion

By Amgbare Ekaunkumo, Yenagoa Two historic communities in Bayelsa State,...

Sokoto-Badagry Superhighway to Boost Trade, Regional Integration

By Muhammad Ibrahim, Sokoto The Sokoto-Badagry Superhighway project, a major...

Related Articles

Popular Categories

spot_imgspot_img