On May 13, data from the National Bureau of Statistics showed that in April 2024, China’s Producer Price Index (PPI) for industrial products fell by 2.5% YoY, while the purchase price index for industrial producers dropped by 3%. The declines narrowed by 0.3 and 0.5 percentage points from the previous month, respectively. On a month-on-month basis, the PPI and the purchase price index decreased by 0.2% and 0.3%, respectively. For the period from January to April, the average PPI decreased by 2.7% compared to the same period last year, and the purchase price index fell by 3.3%.