CHINA's factory gate prices fell last month at the fastest pace in nearly two years, as US President Donald Trump's trade war and intense competition in the world's largest manufacturer weighed on producer prices, reports London's Financial Times.
The producer price index declined 3.6 per cent year on year in June, official data from China's National Bureau of Statistics showed, greater than a 3.2 per cent drop forecast in a Reuters poll of analysts and a decline of 3.3 per cent in May.
The negative reading, the weakest in 23 months, will increase policymakers' determination to intervene in industries where overcapacity is helping to drive aggressive price competition, analysts said.
The consumer price index, meanwhile, edged into growth territory last month for the first time since January, rising 0.1 per cent, reversing a decline of 0.1 per cent in May and beating analyst expectations of flat prices.
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The producer price index declined 3.6 per cent year on year in June, official data from China's National Bureau of Statistics showed, greater than a 3.2 per cent drop forecast in a Reuters poll of analysts and a decline of 3.3 per cent in May.
The negative reading, the weakest in 23 months, will increase policymakers' determination to intervene in industries where overcapacity is helping to drive aggressive price competition, analysts said.
The consumer price index, meanwhile, edged into growth territory last month for the first time since January, rising 0.1 per cent, reversing a decline of 0.1 per cent in May and beating analyst expectations of flat prices.
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