China’s producer price index (PPI) contracted 1.6 percent year on year in January, following a 1.4-percent drop in December, data from the National Bureau of Statistics (NBS) showed on Friday.
The index, which measures inflation at the wholesale level, has been in deflationary territory for 23 consecutive months, the longest drop since the 1990s.
The PPI edged down 0.1 percent month on month in January. In December, the index remained unchanged from the preceding month.
The NBS also said the consumer price index rose 2.5 percent last month from a year earlier, the same pace as in December.
The data came after China’s January trade numbers showed both imports and exports were sharply higher last month, defying expectations of a slowdown in the world’s second-largest economy.
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