China's producer inflation hits near 4-year high in June

China's producer price inflation surged for a fourth straight month in June to its highest since July 2022, while consumer prices extended gains, official data showed on Thursday, indicating that cost pressures remained elevated for domestic manufacturers.

The producer price index (PPI) rose 4.1 percent year-on-year, National Bureau of Statistics data showed, matching the forecast in a Reuters poll. The index had risen 3.9 percent in May.

Compared with the previous month, PPI dropped 0.3 percent in June.

The consumer price index (CPI) climbed 1.0 percent from the same month last year, after gaining 1.2 percent in May. Economists polled by Reuters had expected a 1.1 percent increase.

On a monthly basis, CPI edged down 0.3 percent, compared with an expected 0.2 percent drop and a 0.1 percent dip in May.

Reuters

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