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China CPI and PPI dive in Feb
Report from National Bureau of Statistics in February revealed that China’s consumer price index (CPI) eased 1.6 percent year-on-year, the first negative growth since Decemeber 2002.
The producer price index (PPI), a measure of wholesale prices, fell by 4.5 percent year-on-year in February after a 3.4 percent decline in January, the sharpest decline since April 1999.
In the meantime, Minister of Commerce Chen Deming predicted a decrease in China’s imports and exports in February. The country’s trade volume decreased 9 percent year-on-year in November, 11 percent in December and 29 percent in January.
The 2008 annual CPI growth settled at 5.9 per cent, which was once peaked at 8.7 per cent in February last year.
Related Articles:
- China Imports and Exports fall in Jan
- China Exports in December took another plunge
- October PPI and CPI continue to soften
- Analysts tipping a downturn for China exports in October
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