China's PPI up 8.8% in June

BEIJING -- China's producer prices registered slower growth in June amid the country's continuous efforts to ensure supply and stabilize prices of raw materials, official data showed Friday.

China's producer price index (PPI), which measures costs for goods at the factory gate, went up 8.8 percent year-on-year in June, falling from the 9-percent growth in May, according to the National Bureau of Statistics (NBS).

On a monthly basis, the PPI gained 0.3 percent, dropping by 1.3 percentage points from May, data from the NBS showed.

The price hike in certain industries including steel and non-ferrous metals was subdued, as their prices turned from rising to falling in June.

In the first six months, the PPI growth averaged at 5.1 percent year-on-year, according to the NBS.

The PPI data came along with the release of the consumer price index, a main gauge of inflation, which gained 1.1 percent year-on-year in June.