China’s producer prices slid in August as concerns grow that deflationary forces are taking root in the world’s second-largest economy.
Industrial producer prices fell 1.8 per cent year on year, the most in four months, dragged down by the steel sector. This compares with a decline of 0.8 per cent in July and analysts’ expectations of a 1.4 per cent fall, official data showed.
China’s consumer price index, meanwhile, rose 0.6 per cent year on year, slightly below analysts’ expectations of 0.7 per cent in a Reuters poll but faster than July’s 0.5 per cent increase, the National Bureau of Statistics said on Monday.
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