Beijing, May 9 (IANS) China’s producer price index (PPI), which measures wholesale inflation, fell 2.6 percent year on year in April, the National Bureau of Statistics said Thursday.
The drop, which was lower than the 2.2 percent market estimation, recorded the lowest figure since last November, suggesting continued weak market demand, reported Xinhua.
Output prices of production materials fell 3.5 percent year on year in April, contributing about 2.68 percentage points of the PPI drop in the month, while those of consumer goods gained 0.3 percent during the period.
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