BEIJING, July 9 (Reuters) – China’s producer price inflation surged for a fourth straight month in June to its highest since July 2022, while consumer prices extended gains, official data showed on Thursday, indicating that cost pressures remained elevated for domestic manufacturers.
The producer price index (PPI) rose 4.1% year-on-year, National Bureau of Statistics data showed, matching the forecast in a Reuters poll. The index had risen 3.9% in May.
Compared with the previous month, PPI dropped 0.3% in June.
The consumer price index (CPI) climbed 1.0% from the same month last year, after gaining 1.2% in May. Economists polled by Reuters had expected a 1.1% increase.
On a monthly basis, CPI edged down 0.3%, compared with an expected 0.2% drop and a 0.1% dip in May.
(Reporting by Yukun Zhang and Ryan Woo; Editing by Muralikumar Anantharaman)
Comments