China's June PPI down 1.1%

BEIJING - China's producer price index (PPI) for industrial products, which measures inflation at the wholesale level, fell 1.1 percent year on year in June, the National Bureau of Statistics (NBS) said on Wednesday.

The data marked the 28th consecutive month of drops, but the pace has narrowed, down from the 1.4-percent fall seen in May, 2 percent in April and 2.3 percent in March.

The trend indicates some "positive changes" in the industrial market, noted NBS senior statistician Yu Qiumei.

Month on month, producer prices in June edged down 0.2 percent.

Factory prices of production materials went down 1.5 percent in June, contributing 1.16 percentage points of the PPI drop in the month, while those of consumer goods gained 0.2 percent during the period.

The data came along with the release of the consumer price inflation index, which eased to 2.3 percent in June.

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