China's producer price index (PPI) in December dipped 0.4% from the preceding year, slowing down significantly from a 1.5% drop in November, showed data from the National Bureau of Statistics on January 11.
The eased decline showed China's manufacturing sector kept recovering following the aftermath of COVID-19 pandemic.
Coal mining and washing industry saw purchase prices tick up 1.3% in the same month, after a 2.9% decline in November last year, as supply tightness and strong buying demand bolstered up prices.
Non-ferrous metal smelting industry posted the sharped growth of 8.3%, expanding by 4.2 percentage points compared with a month earlier, while oil, coal and other fuels processing industry registered a 12.5% drop.
On a monthly basis, PPI climbed up 1.1% in December, compared with a slow 0.5% rise in November, thanks to increasing domestic demand and rising prices of some international bulk cargoes.
The consumer price index (CPI) edged up 0.2% year on year in December after a 0.5% drop a month ago, and it also climbed up 0.7% on a monthly basis following a 0.6% decline in November.
(Writing by Tammy Yang Editing by Harry Huo)
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