Producer prices in China rose at an eight-month low in February as consumer prices remained unchanged, according to official figures, leaving room for the central bank to ease monetary policy to stimulate demand.
The producer price index rose 8.8% compared to the previous year in February, slowing down from 9.1% in January.
The figures were in line with economists’ estimates.
However, on a monthly basis, producer prices rose to a positive level last month, rising 0.5% amid rising prices for international commodities such as crude oil and non-ferrous metals, according to a China-based statistician.
The sharp rise in international energy prices has led to rising prices for domestic oil industries, while coal prices continue to fall.
China’s consumer price index rose 0.9% year-on-year in February, according to estimates.
Consumer prices fell 3.9% from last year, offsetting a rise in prices (excluding food) that rose 2.1% last month.
Source: Capital
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