The fall is a slight recuperation compared to July and June’s reductions of 4.4 and 5.4 per cent, respectively. Moreover, August witnessed a 0.2 per cent month-on-month (MoM) increase, displaying a reverse trend from July’s 0.2 per cent decrement, according to the National Bureau of Statistics.
In August 2023, China’s PPI saw a YoY decrease of 3 per cent, a minor recuperation from the preceding months, as per recent data.
Despite the yearly decrease, August marked a 0.2 per cent growth MoM, hinting at a reversal in the declining trend witnessed in July.
There was a 3.2 per cent average reduction in the PPI over the initial eight months of 2023.
Throughout the initial eight months of 2023, the average PPI decreased by 3.2 per cent YoY. This update sheds light on the Chinese market’s dynamics, illustrating a potential stabilisation in producer prices.
Fibre2Fashion News Desk (NB)
