China's PPI for industrial products down 1.1%

China's producer price index (PPI) for industrial products, which measures inflation at the wholesale level, fell 1.1% year on year in June, the National Bureau of Statistics (NBS) said on Wednesday.
The data marked the 28th consecutive month of drops, but the pace has narrowed, down from the 1.4% fall seen in May, 2% in April and 2.3% in March.
The trend indicates some "positive changes" in the industrial market, noted NBS senior statistician Yu Qiumei, according to China's (Xinhua) News.
Month on month, producer prices in June edged down 0.2%.
Factory prices of production materials went down 1.5% in June, contributing 1.16 percentage points of the PPI drop in the month, while those of consumer goods gained 0.2% during the period.
The data came along with the release of the consumer price inflation index, which eased to 2.3% in June.