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...

Alleged ₦80.2bn Fraud: EFCC Kicks as Yahaya Bello Seeks Medical Travel Abroad

By Gabriel Udeh The Economic and Financial Crimes Commission, EFCC,...

Why we’re raising concerns over alleged contract scam at NNPCL – Coalition

President Bola Tinubu has been asked to terminate the...

Tinubu Assures Abuja Residents, No More ” One Chance” Attacks

By Joyce Remi-Babayeju President Bola Tinubu has assured Abuja residents...

INEC Sets August 16 for Bye-Elections in 12 States, Resumes Voter Registration

The Independent National Electoral Commission (INEC) has announced August...

Tinubu Hosts Fubara, Wike, Rivers Lawmakers in Fresh Push for Peace

President Bola Tinubu on Thursday convened a closed-door meeting...

Kaduna Govt, SMEDAN Seal N1 Billion Partnership to Support MSMEs

The Kaduna State Government has signed a ₦1 billion...

President Tinubu Appoints Grace Henry as First Female Chair of Nigerian Legion

President Bola Tinubu has appointed Grace Henry, a 60-year-old...

Former Plateau Governor’s Aide Calls for Unity in PDP Amid Internal Rifts

By Israel Adamu, Jos A media consultant to former Plateau...
spot_img

Related Articles

Popular Categories

spot_imgspot_img