BEIJING, Jan. 9 (Xinhua) -- China's producer price index (PPI), which measures costs for goods at the factory gate, dropped 0.3 percent year on year in 2019, the National Bureau of Statistics said Thursday.
In December, the PPI dropped 0.5 percent year on year, shrinking from the 1.4-percent decline in November.
Factory prices of capital goods decreased 1.2 percent year on year in December, shrinking from the 2.5-percent declining in November. Meanwhile, China's consumer price index , a main gauge of inflation, rose 2.9 percent year on year in 2019, within government target of 3 percent, official data showed Thursday.
The growth picked up from 2.8 percent in the first 11 months, and was above the 2.1-percent annual increase in 2018, according to the National Bureau of Statistics.The hike was mainly driven by food prices, which soared 17.4 percent year on year last month, contributing 3.43 percentage points to the increase in December.
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