May 12, 2020 / 1:44 AM / 2 months ago

China April PPI posts sharpest y/y fall in four years

BEIJING, May 12 (Reuters) - China’s factory gate prices in April fell at the sharpest annual rate in four years, official data showed on Tuesday, underscoring the downward pressure on production in the world’s second-largest economy from the coronavirus pandemic.

The producer price index (PPI) fell 3.1% from a year earlier, China’s National Bureau of Statistics said in a statement, compared with a 2.6% fall tipped by a Reuters poll of analysts and a 1.5% decline in March.

China’s consumer price index rose 3.3% from a year earlier, compared with a 3.7% rise tipped by a Reuters poll of analysts and a 4.3% rise in March. (Reporting by Yawen Chen and Se Young Lee; Editing by Sam Holmes)

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