business

China’s factory-gate prices see narrowed decline in December

BEIJING, Jan. 11 (Xinhua) — China’s producer prices saw narrowed decline in December 2020 amid a steady recovery in industrial activities, official data showed Monday.

The producer price index (PPI), which measures costs for goods at the factory gate, fell 0.4 percent year on year in December, narrowing from the 1.5-percent drop in November, according to the National Bureau of Statistics (NBS).

On a monthly basis, the PPI rose 1.1 percent last month.

The continued recovery of domestic demand and soaring prices of some global commodities led to rising industrial product prices, said NBS senior statistician Dong Lijuan.

In 2020, the PPI went down 1.8 percent from the previous year, NBS data showed.

The PPI data came along with the release of the consumer price index, a main gauge of inflation, which rose 0.2 percent year on year in December.

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