China's producer prices fell at a slower pace in December, in signs of a mo...
FILE PHOTO: A vendor is seen in her store at a supermarket in downtown Beijing, China, May 23, 2019. REUTERS/Jason Lee
BEIJING - China’s producer prices fell at a slower pace in December, in signs of a modest recovery in manufacturing activity and suggesting Beijing’s stimulus measures might have helped to steady the economy. The producer price index , seen as a key indicator of corporate profitability, fell 0.5% from a year earlier, National Bureau of Statistics data showed on Thursday. Analysts had expected factory-gate prices to fall 0.4% year-on-year, compared with a 1.4% drop in November.
The slower pace of decline in producer prices was in line with improving price components in recent factory surveys. Milder price deflation was partly supported by a recovery in petroleum, coal and other fuel processing industries, the NBS said in a statement accompanying the data.China’s consumer price index in December rose at a pace unchanged from November - an eight-year high of 4.5% - fueled again by a surge in pork prices as African swine fever ravaged the country’s hog herds.
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