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China’s PPI up 3.1% in March

Updated: Apr 11,2018 10:16 AM     Xinhua

BEIJING — China’s producer price index (PPI), which measures costs for goods at the factory gate, rose 3.1 percent year-on-year in March, the National Bureau of Statistics (NBS) said on April 11.

The pace was down from a rise of 3.7 percent recorded in February, as growth in factory prices of production materials and consumer goods both moderated, according to NBS statistician Sheng Guoqing.

In the first quarter, PPI rose by 3.7 percent year-on-year, easing from 5.8-percent growth in the fourth quarter of 2017.

The moderation was normal, considering a high comparison base, NBS said in a statement.

On a month-on-month basis, PPI dropped 0.2 percent in March.

In breakdown, factory prices in the gas production and supply sector declined 1.7 percent compared with February, while factory prices in the automobile manufacturing industry went down by 0.2 percent.

Bucking the trend, factory prices in the paper-making and paper products sector jumped 1.3 percent compared with February, and 9.2 percent year-on-year.

NBS data also showed that China’s consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year-on-year in March, easing from growth of 2.9 percent for February.