Beijing: China's producer price index (PPI), which measures costs for goods at the factory gate, experienced a 2.9% decline year-on-year in August, as reported by the National Bureau of Statistics (NBS) on Wednesday.

According to Qatar News Agency, this decline marks a narrowing of 0.7% from the previous month and is the first such narrowing since March this year. This change suggests an improvement in industrial demand, aligning with government efforts to bolster economic growth.

On a monthly basis, the PPI broke its previous downward trend, remaining steady in August after experiencing a 0.2% decrease in July. For the first eight months of the year, the PPI saw a 2.9% decrease compared to the same period in 2024.

Furthermore, China's consumer price index, a primary measure of inflation, decreased by 0.4% year-on-year in August, as stated by the NBS.