China's producer price growth eases in April

China's producer price index (PPI), which measures costs for goods at the factory gate, went up 8 percent year on year in April.

China's producer price index, which measures costs of goods at the factory gate, posted slower growth in April over sustained government efforts to ensure supply and price stability, official data showed Wednesday.

The PPI went up 8 percent year on year in April, according to the National Bureau of Statistics (NBS). The figure moderated from the 8.3 percent year-on-year increase registered in March this year.

On a monthly basis, China's PPI gained 0.6 percent in April, compared with the 1.1 percent increase in March.

Despite high international commodity prices, both the monthly and year-on-year growth rates of PPI slowed down thanks to the resolute implementation of policies of ensuring supply and price stability by all regions and government departments, according to Dong Lijuan, a senior NBS statistician.

Among 40 industrial sectors surveyed, 22 saw slower price growth in April, compared with 21 in March, NBS data showed.

The PPI of the coal mining and washing industry went up 53.4 percent year on year in April, compared with 53.9 percent rise in March.

The carry-over effect of last year's price movements contributed about 5.9 percentage points to the year-on-year PPI growth in April, according to the NBS.

Wednesday's data also showed that China's consumer price index, a main gauge of inflation, rose 2.1 percent year on year in April.

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