China Jul PPI up 5.5pct on yr

2017-08-09 10:31:00 Others sxcoal.com

China's producer price index rose 5.5% from a year earlier and up 0.2% from a month ago in July, showed data released by the statistics bureau on August 9.


Soaring prices of commodities such as coal, steel and cement extended a sweet spot for industrial firms, which have enjoyed solid profits and, through China's massive supply chains, have underpinned global reflation since last year.


The government's drive to reduce industrial capacity capped supply of raw materials while demand from property and infrastructure projects has held up so far.


In July, prices of coal mining and washing industry surged 32.3% from the preceding year but fell 0.1% from June; prices of oil and natural gas mining industry rose 5.8% from the previous year but dropped 5.3% from the month prior.


Meanwhile, prices of ferrous metal industry rose 12.4% year on year and up 0.8% month on month, while that of non-ferrous metals industry expanded 10.7% from the year before and up 0.5% from the month-ago level.


The consumer price index increased 1.4% year on year and 0.1% month on month in July, showed the data.



(Writing by Jessie Jia   Editing by Harry Huo)
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