China Precios al productor - Variación interanual

China's producer prices shrank by 2.8% yoy in March 2024, matching market forecasts and following February's print of a 2.7% decline. It was the 18th straight month of contraction in factory-gate prices and the steepest decrease since last November, highlighting persistently weak demand as the economy needed fresh stimulus. Cost of means of production fell further (-3.5% vs -3.4% in February) due to faster drops in mining and quarrying (-5.8% vs -5.5%) and processing prices (-3.6% vs -3.2%) while extended drops in raw materials (-2.9% vs -3.4%). Moreover, prices of consumer goods continued to decline (-1.0% vs -0.9%), with prices remaining weak for food (-1.3% vs -0.9%), durable goods (-1.8% vs -1.9%), and daily use goods (-0.1% vs flat reading) while clothing inflation was steady (at 0.3%). Monthly, producer prices were 0.1% lower in March, following a 0.2% fall in February. During the first three months of 2024, producer prices dropped 2.7%.