CHINA’S PPI DOWN 3.3 PERCENTAGE POINTS IN MAY – NBS attributed the decline of PPI to falling international crude prices
China’s producer price index (PPI), which measures costs for goods at the factory gate, went down 3.3 percent year on year in May, the National Bureau of Statistics has announced.
On a month-on-month basis, the PPI dropped 0.4 percent in May, according to the NBS data.
NBS attributed the decline of PPI to falling international crude prices, which drove down domestic prices in petroleum-related industries, as well as a seasonal slowdown in demand for energy and raw materials, with coal prices easing and construction activity disrupted by hot and rainy weather in southern regions.
In May, the purchasing prices for industrial producers dropped by 3.6 percent year on year, and 0.6 percent month on month, the NBS data showed.
From January to May, the PPI and the purchasing price index for industrial producers both decreased by 2.6 percent year-over-year, the data showed.
