China’s PPI inflation falls 2.8% YoY in Sep. ’24

China’s producer price index (PPI) inflation dropped 2.8 per cent year-on-year in September 2024, marking the steepest decline in six months. This decrease was more significant than the 1.8 per cent drop observed in August.

Core inflation, excluding food and fuel prices, dropped to 0.1 per cent in September from 0.3 per cent in August. This indicates that deflationary pressures are spreading beyond just the producer level.

While the consumer price index (CPI) inflation remained unchanged month-on-month, it was below the estimated increase of 0.4 per cent. Food prices rose 3.3 per cent year-on-year in September, compared to a 2.8 per cent increase in August.

Attribution: Reuters

Subediting: Y.Yasser