CHINA’S producer price index (PPI), which measures costs of goods at the factory gate, posted slower growth in April over sustained government efforts to ensure supply and price stability, official data showed yesterday.

The PPI went up 8% year on year in April, according to the National Bureau of Statistics (NBS). The figure moderated from the 8.3% year-on-year increase registered in March this year.

On a monthly basis, China’s PPI gained 0.6% in April, compared with the 1.1% increase in March.

Despite high international commodity prices, both the monthly and year-on-year growth rates of PPI slowed down thanks to the resolute implementation of policies of ensuring supply and price stability by all regions and government departments, according to Dong Lijuan, a senior NBS statistician.

Among 40 industrial sectors surveyed, 22 saw slower price growth in April, compared with 21 in March, NBS data showed.

The carry-over effect of last year’s price movements contributed about 5.9 percentage points to the year-on-year PPI growth in April, according to the NBS.

China’s consumer price index (CPI) rose by 2.1% year on year in April, speeding up from March’s 1.5% growth.

Dong said that the rise in the CPI was caused mainly by higher logistics costs during the country’s COVID-19 resurgence, measures to fight the virus and stockpiling by consumers.

Market analysts expect the CPI to rise again in May and the PPI to ease further.(Xinhua)