China factory inflation below expectations in July

BEIJING: China’s factory price inflation remained steady for the third consecutive month in July, the government said Wednesday, coming in slightly below expectations as experts warn of a further slowdown in the world’s second-largest economy.

The producer price index (PPI) rose 5.5 percent year-on-year, according to the National Bureau of Statistics (NBS), the same as the previous two months but missing the 5.6 percent gain forecast in a Bloomberg News survey.