China's producer price index (PPI), which measures costs for goods at the factory gate, dropped by 0.4 percent year-on-year in February, the National Bureau of Statistics (NBS) said today, Xinhua reports. China's consumer price index (CPI), the main gauge of inflation, grew 5.2 percent year on year in February, according to the NBS. Producer price plunge in oil-related industries including petroleum and natural gas exploitation and chemical goods manufacturing dragged the overall PPI down by 0.44 percentage points. Bucking the trend, producer prices for the medical manufacturing industry increased in February despite efforts to ensure the production of medical supplies and protective gear. Lifted by increased raw material prices and logistics costs, the PPI for medical manufacturing climbed 0.3 percent month on month.

Source: The Standard March 10, 2020 04:44 UTC