China’s producer price index (PPI) rose 8.8% year-on-year in February, down from 9.1% in January, the National Bureau of Statistics (NBS) said. The result was the lowest since June (8.8%) and was in line with the forecast of economists consulted by the The Wall Street Journal.
In the monthly comparison, the PPI went from a deflation of 0.2% in January to an inflation of 0.5% in February. Rising international commodity prices such as oil and non-ferrous metals contributed to the sign reversal, NBS senior statistician Dong Lijuan explained.
The consumer price index (CPI), in turn, increased 0.9% in the annual comparison of February. The result was also in line with the market forecast and repeated the high observed in the previous month. In the monthly comparison, the CPI increased by 0.6%, after 0.4% in the previous month. With information from Dow Jones Newswires.
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