Hong Kong — China’s factory gate prices rose at a slightly slower pace in June after a year-long rise that pushed producer inflation to its highest level in more than a decade, leading to inflation in the world’s second-largest economy. Raised expectations among economists. You may have reached a turning point.
According to the National Bureau of Statistics, China’s producer price index rose 8.8% year-on-year in June, down from a 9.0% year-on-year surge in May. The reading was in line with expectations from economists polled by The Wall Street Journal. This is the first time that it has decreased from the previous month since October last year.
Aside from last year’s rise in comparisons, the gradual slowdown in inflation indicators was largely due to the slowdown in global metal price increases and Beijing’s recent efforts to curb the rebound of domestic commodities, according to the Statistics Bureau. It was a thing.
Chinese authorities warn metal producers of hoarding and price fixing and their Release copper and aluminum state reserves It helped push last month’s raw material price indicators to their lowest levels since October.
“The policy of securing supply and stabilizing domestic commodity prices has been successful,” said Don Riffan, senior analyst at China’s Statistics Bureau, on Friday. “Price increases for industrial products have slowed.”
China’s inflation cools, but Beijing is worried that the economy is losing heat
Source link China’s inflation cools, but Beijing is worried that the economy is losing heat