China's Producer Price Index (PPI), a major measure of wholesale-level inflation, rose 7.3 percent year-on-year in August, the National Bureau of Statistics said Friday.

August's PPI growth was lower than July's 7.5 percent increase, the NBS said in a statement on its website.

During the first eight months of this year, the country's PPI climbed 7.1 percent from the same period last year.

Producer purchase prices rose by 10.6 percent year-on-year, and grew by 0.2 percent from July, according to the NBS.

The producer prices of production materials rose 8 percent year-on-year in August, and increased by 0.1 percent since July, the statement said.

Source:xinhuanet