China's factory-gate deflation eases on recovering economy
Xinhua, Beijing :
China's producer prices continued to fall in July but the decline has kept narrowing as economic activities recovered amid effective epidemic control in the country, official data showed Monday.
The producer price index (PPI), which measures costs for goods at the factory gate, fell 2.4 percent year on year in July, according to the National Bureau of Statistics (NBS).
The reading narrowed from the 3-percent drop in June and 3.7-percent fall in May.
Month on month, overall producer prices gained 0.4 percent as industrial production continued to pick up and market demand gradually warmed, the NBS said, adding rising international commodities prices also played a role.