China’s factory gate prices fall for sixth straight month in July

August 10, 2020

BEIJING (Reuters) – China’s factory gate prices fell for the six straight month in July but at a slightly slower-than-expected rate, official data showed on Monday, as economic activity normalised after the coronavirus crisis.

The producer price index (PPI) fell 2.4% from a year earlier, the National Bureau of Statistics (NBS) said in a statement, compared with the median forecast for a 2.5% decline from a Reuters poll of analysts and a 3.0% drop in June.

The consumer price index (CPI) rose 2.7%, compared with a 2.6% increase tipped by a Reuters poll and a 2.5% increase in June.

(Reporting by Yawen Chen and Se Young Lee; Editing by Sam Holmes)