September 9 (CapitalVue) -- The producer price index (PPI), a measure of inflation at the wholesale level, in China rose 7.3% year-on-year in August, while the purchase prices paid by industrial producers were up 10.6% year-on-year, according to the National Bureau of Statistics (NBS).

For the first eight months, the producer price index rose 7.1% year-on-year, while the purchase prices paid by industrial producers increased 10.4%.

The ex-factory prices of means of production rose 0.1% month-on-month and eight % year-on-year in August.

The mining, raw material, and processing industries posted 18.8%, 11.6%, and 5.4% year-on-year increases in the ex-factory prices of means of production.

On a month-on-month basis, the mining and raw material industries posted respective prices increases of 0.8% and 0.2%, while processing industries recorded a 0.1% fall in prices.

The ex-factory price of food rose 8.3% year-on-year and 0.4% month-on-month, while that of apparel increased 4.6% year-on-year and 0.3% from July.

The ex-factory price of durable goods fell 0.3% year-on-year and was unchanged from July.

The purchase prices paid by producers of fuel, ferrous metals, and chemical materials rose 0.1%, 0.4%, and 0.3% month-on-month in August while that of non-ferrous metals was unchanged.

The purchase prices paid by producers of non-ferrous metals, fuel, ferrous metals, and chemical materials rose 16.8%, 12.7%, 9.9%, and 13.4% year-on-year, respectively.

Source:CapitalVue