BEIJING (Reuters) – China’s factory gate prices fell in annual terms for the seventh straight month in August, but at the slowest rate since March, official data showed on Wednesday, suggesting the country’s industries continue to recover from the COVID-19 outbreak.
The producer price index (PPI) fell 2.0% last month from a year earlier, the National Bureau of Statistics said, in line with expectations for a 2.0% decline in a Reuters poll. It fell 2.4% year-on-year in July.
The consumer price index increased 2.4% from a year earlier in August, the statistics bureau said, in line with analyst expectations in a Reuters poll. The index rose 2.7% year-on-year in July.
(Reporting by Stella Qiu and Ryan Woo; Editing by Muralikumar Anantharaman)
