China's producer prices down 0.8% in August

China's producer price index, which measures costs for goods at the factory gate, dropped 0.8 percent year on year in August, the National Bureau of Statistics said Tuesday.

The reading expanded from the 0.3-percent decline in July, the NBS data showed.

On a month-on-month basis, the PPI dropped 0.1 percent last month, narrowing from the 0.2-percent drop in July, according to the NBS.

In the first eight months, the PPI rose 0.1 percent year on year on average.

Factory prices of production materials decreased 1.3 percent year on year in August, expanding from the 0.7-percent decline in July.