China's factory-gate inflation eased to its weakest since February 2021, as raw material prices fell due to already slower construction activity, while consumer prices rose gently, bucking the sharp increases seen elsewhere.
The producer price index rose 4.2% year-on-year, the National Bureau of Statistics said on Wednesday, after a 6.1% uptick in June. Analysts in a Reuters poll had expected an increase in the PPI of 4.8%.
Factory-gate price inflation in China is expected to slow and turn negative briefly next year, Capital Economics said in a research note. The consumer price index increased 2.7% from a year earlier, the fastest pace since July 2020 and higher than the 2.5% gain in June, but missing forecasts for a 2.9% gain.
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