China's PPI up 8.8 pct in February
China's producer price index (PPI), which measures costs for goods at the factory gate, went up 8.8 percent year on year in February, data from the National Bureau of Statistics (NBS) showed Wednesday.
The figure moderated from the 9.1 percent year-on-year increase registered in January this year, NBS data showed.
On a monthly basis, China's PPI gained 0.5 percent in February compared with 0.2 percent decline in January.
Rising crude oil and non-ferrous metal prices have led to the monthly PPI increase in February, according to senior NBS statistician Dong Lijuan.
The PPI of oil exploitation increased by 13.5 percent month on month, while that of non-ferrous metal processing went up 2 percent from a month ago.
The carry-over effect of last year's price movements contributed about 8.4 percentage points to the year-on-year PPI growth in February, Dong said.
China's PPI rose 8.1 percent year on year in 2021, official data showed.
Wednesday's data also showed that China's consumer price index, a main gauge of inflation, rose 0.9 percent year on year in February.
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