BEIJING, Sept. 9 -- China's producer price index (PPI), which measures costs for goods at the factory gate, went down 3 percent year on year in August, data released by the National Bureau of Statistics showed Saturday.

The decrease narrowed from a 4.4-percent decline in July and a 5.4-percent drop registered in June. On a monthly basis, the August PPI edged up 0.2 percent, compared to a decrease of 0.2 percent registered in July, NBS data showed.

The average PPI in the first eight months of 2023 went down 3.2 percent year on year, the data showed.