China's October PPI down 2.2%

BEIJING -- China's producer price index (PPI), which measures inflation at wholesale level, dropped 2.2 percent year on year in October, the National Bureau of Statistics said on Monday.

On a monthly basis, the PPI index contracted 0.4 percent from the previous month, the same as that of September, the NBS said in a statement on its website.

The PPI declined for the 32nd straight month and in a faster pace than the previous month, which indicated existing pressure from subdued manufacturing activities and economic growth momentum.

The PPI had dropped 1.8 percent year-on-year in September, 1.2 percent in August and 0.9 percent in July.

In the first 10 months, the country's PPI dropped 1.7 percent year-on-year, the data showed.

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