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China's producer prices up 0.1% in January

Updated: Feb 10,2020 11:20 AM    Xinhua

BEIJING — China's producer price index (PPI), which measures costs for goods at the factory gate, rose 0.1 percent year-on-year in January, the National Bureau of Statistics (NBS) said Feb 10.

The slight increase last month was the first year-on-year increase in eight months, the NBS data showed.

On a month-on-month basis, the PPI remained flat for a second month in a row, according to the NBS.

Last year, the PPI on average dropped 0.3 percent from 2018.

Factory prices of capital goods decreased 0.4 percent year-on-year in January, shrinking from the 1.2 percent decline in December.

Seventeen of the 40 surveyed industries saw price hikes month-on-month, while 18 reported price drops and five witnessed unchanged prices.

Among major industries, oil and natural gas extraction saw faster price increase in January, with prices up 17.5 percent year-on-year, expanding by 11.7 percentage points.

Prices for non-ferrous metal mining and dressing edged up 2.4 percent year-on-year, while ferrous metal mining and dressing went up 0.7 percent over one year ago in January.

NBS senior statistician Dong Lijuan said the 0.1 percent year-on-year gain in January was the carry-over effect of last year's price movements.

The data on Feb 10 also showed China's consumer price index, a main gauge of inflation, rose 5.4 percent year-on-year in January.