China's producer price index (PPI), which measures costs for goods at the factory gate, went down 2.3 percent year on year in December, the National Bureau of Statistics said Thursday (Jan. 9).
PPI is a price index that measures the average changes in prices received by domestic producers for their output. Formerly known as the wholesale price index between 1902 and 1978, the index is made up of over 16,000 establishments providing approximately 64,000 price quotations that the U.S. Bureau of Labor Statistics (BLS) compiles each month to represent thousands of different goods and services.
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Tag:·National Bureau of Statistics· producer price index· costs for goods· factory gate
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