China's Producer Price Index Down 4.6% in Q1

BEIJING, Apr. 16 -- China's producer price index (PPI), a major measure of inflation at the wholesale level, fell 4.6 percent in the first quarter year on year, the National Bureau of Statistics (NBS) announced Thursday.

    The figure was compared with a decline of 3.9 percent in the first two months over the same period last year.

    NBS spokesman Li Xiaochao said prices of production materials were down 7.1 percent in March year on year, while prices of real estate dropped 1.1 percent.

    The PPI saw a decline of 0.3 percent in March over the February level, Li said.

    The NBS also announced the consumer price index, a main gauge of inflation, fell 1.2 percent year on year in March.

    This was compared with a decline of 1.6 percent in February, the first monthly fall since December 2002.

    (Source: Xinhua)