(MENAFN- QNA) China's producer price index (PPI), which measures inflation at wholesale level, dropped 1.2% year- on-year in August, the National Bureau of Statistics (NBS) said on Thursday.
The PPI declined for the 30th straight month and at a faster pace than the previous month.
The PPI dropped 0.9% from a year ago in July, down from 1.1% in June and 1.4% in May, China's News Agency (Xinhua) reported.
Factory prices of production materials declined by 1.7% in August, contributing 1.3% points to the PPI drop, while factory prices for consumer goods gained 0.2%, data showed.
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