BEIJING: China’s producer price index (PPI), which measures costs for goods at the factory gate, went down 3% year-on-year in November, says the National Bureau of Statistics (NBS).
On a monthly basis, the November PPI went down 0.3% compared to October when the PPI stayed unchanged, according to data released last Saturday.
“Due to factors such as the fall in international oil prices and weak market demand for some industrial products, the nation’s PPI on a monthly basis turned from staying flat (in October) to a decrease in November, while the PPI decline also widened in November year-on-year (y-o-y),” said NBS statistician Dong Lijuan.
Prices of means of production fell 0.3% month-on-month, contributing 0.24 percentage points to the overall decline in monthly PPI for November, NBS data showed.
In terms of producer prices for major industries, prices for the oil and gas extraction industry went down 2.8% month on month in November; prices for the non-ferrous metal ores mining industry went down 0.5%, and prices for the agricultural and sideline food processing industry went down 0.8%, the data showed. — Xinhua
