China’s June PPI down 4.8 pct

 China’s producer price index (PPI), which measures wholesale inflation, slid 4.8 percent year-on-year in June, the National Bureau of Statistics said on July 9.

The industrial purchaser price index declined 5.6 percent month-on-month in June, and slid 0.2 percent on a year-on-year basis.

In the first half of the year, the PPI declined 4.6 percent on a month-on-month basis, and the industrial purchaser price index dropped 5.5 percent month-on-month.

The means of production price dipped 6.2 percent month-on-month, which caused the PPI to decline by about 4.7 percent.

The price change last year is estimated to have caused about 2.2 percent of the 4.8 percent fall of the PPI, while the new price change this year accounted for 2.6 percent of the fall.