The fall in producer prices in China continued in January

Although consumer prices increased in January in China, the decline in producer prices continued in the last quarter of last year.

China’s National Bureau of Statistics (UIB) announced January 2023 data on price increases in the country.

As a result, China’s consumer price index (CPI) rose 2.1 percent in January from the same month a year earlier, while the producer price index (PPI) declined 0.8 percent. hundred.

Thus, the downward trend of the PPI, which is calculated from the factory prices of manufacturing products, registered in October, November and December 2022, continued in the first month of the new year.

The contraction of the manufacturing sector in the last months of the year and the loss of activity due to the Covid-19 restrictions were effective in lowering producer prices.

It is claimed that the removal of the Covid-19 measures and the increase in consumption with the Spring Festival were effective in increasing the CPI, which is accepted as the main indicator of inflation.

Food prices rose 2.8 percent in January, while non-food inflation was 1.2 percent. Fuel prices rose 5.5 percent for gasoline, 5.9 percent for diesel and 4.9 percent for LPG. (AA)