A staff member works on a production line at a textile company in Qutang town of Nantong city, east China's Jiangsu province, April 16, 2021. (XIANG ZHONGLIN / XINHUA)
BEIJING – China's producer price index (PPI), which measures costs for goods at the factory gate, went up 6.8 percent year-on-year in April, the National Bureau of Statistics (NBS) said Tuesday.
The stable recovery of domestic industrial production and soaring prices of some global commodities led to rising industrial product prices, said NBS senior statistician Dong Lijuan.
On a monthly basis, the PPI gained 0.9 percent but at a slower pace in April, which is mainly due to the decline in growth rate of prices of the oil and non-ferrous metal industries.
Meanwhile, China's consumer price index (CPI), a main gauge of inflation, rose 0.9 percent year-on-year in April, faster than the 0.4 percent rise recorded in March, data from the National Bureau of Statistics showed
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A breakdown of the data showed that the PPI for the domestic oil and natural gas extraction sector rose 0.4 percent month-on-month but at a slower pace due to the decline in international crude oil prices.
In the first four months, the PPI growth averaged at 3.3 percent year on year.
Inflation up 0.9%
Meanwhile, China's consumer price index (CPI), a main gauge of inflation, posted faster growth in April as domestic demand continued to pick up, NBS data showed.
The CPI rose 0.9 percent year-on-year in April, faster than the 0.4 percent rise recorded in March, according to the data.
On a monthly basis, the CPI fell 0.3 percent in April, compared with the 0.5 percent decline in March.
The domestic consumer demand continued to recover and overall prices were kept stable last month, Dong said.
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