BUSINESS China's PPI down 0.3 pct in 2019

BUSINESS

China's PPI down 0.3 pct in 2019

Xinhua

10:52, January 09, 2020

BEIJING, Jan. 9 (Xinhua) -- China's producer price index (PPI), which measures costs for goods at the factory gate, dropped 0.3 percent year on year in 2019, the National Bureau of Statistics said Thursday.

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File photo: VCG

It was down from a growth of 3.5 percent recorded in 2018, according to the bureau.

In December, the PPI dropped 0.5 percent year on year, shrinking from the 1.4-percent decline in November.

Factory prices of capital goods decreased 1.2 percent year on year in December, shrinking from the 2.5-percent declining in November.

Among major industries, prices for ferrous metal mining and calendering increased by 8.8 percent in December over one year ago, while non-ferrous metal mining and calendering saw producer prices rise 1.1 percent year on year.

The producer prices for the oil and natural gas extraction industry ended a losing streak and edged up 5.8 percent year on year in December.

Thursday's data also showed China's consumer price index, a main gauge of inflation, rose 2.9 percent year on year in 2019.

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