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在线翻译:
szdaily -> Business -> 
Factory prices fall more slowly, CPI up 2.4%
    2020-09-10  08:53    Shenzhen Daily

THE country’s factory gate prices fell for the seventh straight month in August but at the slowest annual pace since March, suggesting the industries of the world’s No. 2 economy continued to recover from the sharp coronavirus-induced downturn.

The producer price index (PPI) eased 2 percent from a year earlier in August, the National Bureau of Statistics (NBS) said yesterday. That was in line with expectations in a recent poll, but the decline was more modest than the 2.4 percent fall in July.

The consumer price index (CPI) meanwhile rose 2.4 percent last month from a year earlier, as expected, slower than a 2.7 percent annual increase in July.

Food prices, which account for nearly one-third of weighting in China’s CPI, climbed 1.4 percent last month.

In breakdown, pork prices climbed 1.2 percent over rising demand in spite of increased supplies, and vegetable prices hiked 6.4 percent from July as high temperatures and heavy rainfall affected supplies.

In the first eight months of this year, CPI went up 3.5 percent year on year on average.

China’s economy returned to growth in the second quarter after a coronavirus-induced contraction at the start of the year. Recent indicators, including exports data and the PMI surveys, have pointed to a sustained recovery in economic activity and manufacturing.

“In August, industrial production continued to improve while market demand kept recovering,” said Dong Lijuan, senior statistician with the NBS, in a statement accompanying the data release.

“Prices for global commodities such as crude oil, iron ore and nonferrous metals continued to rise, driving a rebound in domestic factory-gate prices.”

PPI rose 0.3 percent in August on a monthly basis.

Policymakers expect economic activity and consumer demand to continue to increase as the coronavirus outbreak comes under control, but warn of risks to the outlook as some of China’s key export markets such as the United States and Europe remain in the grip of the pandemic.(SD-Agencies)

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