China Producer Prices Fall to Lowest in 6 Years Amid Weak Demand
Chinese shoppers select pork at a supermarket in Hefei, east China's Anhui province.
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China’s producer prices fell in July to the lowest level since 2009, in the latest sign that Premier Li Keqiang must take measures to support growth.
The country’s producer-price index fell 5.4 percent year on year last month, according to the National Bureau of Statistics. The drop, which exceeded the median estimate for a 5 percent decrease, extends declines to 41 straight months. The consumer-price index increased 1.6 percent from the year-earlier period, as a surge in pork prices offset sluggish growth in the cost of non-food items.