Guangzhou (JLC), October 14, 2024 – China's consumer price index (CPI), a main gauge of inflation, rose 0.4% year on year in September, easing from a 0.6% growth recorded in August, data from the National Bureau of Statistics (NBS) showed.
The easing was mainly attributed to a high base in the same month of last year, according to Dong Lijuan, an NBS statistician.
On a month-on-month comparison, the CPI was flat in September, compared to a 0.4% growth registered in August, the NBS data showed.
In January-September, the CPI was up 0.3% year on year, the NBS data showed.
Factory-gate price deflation persists
China's producer price index (PPI), which measures factory-gate goods prices, fell 2.8% year on year in September, compared to a 1.8% decrease in August, the NBS data showed.
On a month-on-month comparison, the PPI dropped 0.6% in September, narrowing from a 0.7% decline in August, the NBS data indicated.
Dong Lijuan attributed the PPI changes to fluctuations in international commodity prices and insufficient effective demand in the domestic market.
In January-September, the PPI dropped 2.0% from the same period last year, the NBS data showed.
