China December PPI -0.4% Y/y, CPI +0.2% Y/y

BEIJING: China’s factory gate prices fell by less than expected in December, official data showed on Monday, suggesting China’s manufacturing sector continues to see a steady recovery from the COVID-19 shock.

The producer price index (PPI) fell 0.4% from a year earlier, the National Bureau of Statistics said in a statement. The index was expected to fall 0.8%, according to a median forecast in a Reuters poll, after a 1.5% drop in November.

The consumer price index (CPI) rose 0.2% from a year earlier in December, the statistics bureau said. The index was expected to rise 0.1%, according to the Reuters poll, after easing 0.5% in November.

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