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China's Producer Price Index Up 3.8%, Consumer Price Index 0.8% in August

Economy

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Beijing, September 09 (QNA) - China's producer prices rose by 3.8 percent year-on-year in August, while consumer prices increased by 0.8 percent year-on-year during the same period.

On a month-on-month basis, the PPI reversed a 0.7-percent decline in July to rise 0.4 percent in August, China’s National Bureau of Statistics reported Wednesday.

China's consumer price index, a key gauge of inflation, rose 0.8 percent year on year in August.

Explaining the month-on-month movement, NBS statistician Dong Lijuan said imported price pressures, particularly higher international crude oil and nonferrous metal prices, pushed up prices in some domestic industries.

While industrial transformation and upgrading boosted demand and prices in some emerging sectors. Seasonal factors also played a role, with stronger summer demand for electricity and coal lifting prices in related sectors, while high temperatures and rainfall weighed on construction activity and prices in related industries. (QNA)

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