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China’s January factory inflation falls to slowest pace since July -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: RiotPWR mobile gaming controls are being produced at the factory in Dongguan. Guangdong, China. December 7, 2021. Picture taken December 7, 2021. REUTERS/David Kirton

BEIJING, (Reuters) – China’s factory gate inflation cooled faster than anticipated in January. Official data on Wednesday showed that the pace of decline was slower since July. This is because government measures to reduce raw material costs impacted growth in producer prices.

The producer price index (PPI) increased 9.1% from a year ago, the data showed, down from the 9.5% growth tipped by a Reuters poll after a 10.3% gain in December，the National Bureau of Statistics (NBS) said in a statement.

China’s consumer price index increased 0.9% in the last month compared to a year before. After a 0.5% increase in December, economists polled by Reuters expected a 1% hike.

Multiple headwinds are facing the world’s second largest economy. These include persistent weakness in property and stringent anti-coronavirus policies that have eroded consumer confidence.

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