Multiple factors, including seasonal reasons, imports and market competition, led to a year-on-year decline in China's producer price index (PPI) in the first nine months of this year, said an expert.
China's PPI, which measures costs for goods at the factory gate, went down 2.8 percent year on year in September, the National Bureau of Statistics said Sunday.
In the period from January to September, China's producer prices for industrial products decreased by 2.0 percent over the same period of last year.
Regarding specific industries, there are rises and falls in the prices due to multiple factors. Among them, the rise in international oil prices and copper and aluminum prices have led to an increase in the ex-factory prices of products in the oil and gas extraction industry and the non-ferrous metal industry.
"From the perspective of factors leading to the decline, the supply of cement exceeds the demand, which drives the fall in the ex-factory prices of non-metallic mineral products; the decline in steel demand drives the fall in the ex-factory prices of products in the ferrous metal smelting and rolling processing industries. Affected by factors such as trade frictions and market competition, the ex-factory prices of products in industries such as electrical machinery, computer communications, and automobile manufacturing have fallen to varying degrees," said Zhang Xuewu, director of the Analysis and Forecasting Department of Price Monitoring Center of the commission.
On a monthly basis, the PPI edged down 0.6 percent in September, a narrower decline compared to the previous month, affected by factors such as fluctuations in international commodity prices and insufficient effective demand in the domestic market.
Multiple factors lead to year-on-year decline in China's PPI: expert
People across Iran took to the streets on Friday to mark International Quds Day, an annual event expressing support for Palestinians and condemnation of Israeli actions.
Several high-ranking Iranian officials also took part in the rallies in Tehran, including President Masoud Pezeshkian, Secretary of the Supreme National Security Council (SNSC) Ali Larijani, Judiciary Chief Gholamhossein Mohseni-Ejei as well as cabinet ministers, such as Foreign Minister Seyed Abbas Araghchi.
The event, established by Iran in 1979, is observed on the final Friday of the fasting month of Ramadan. This year, it fell on March 13 and amid the ongoing U.S.-Israeli strikes against Iran.
In the capital, people marched from 10 different locations towards the iconic Enghelab Square in central Tehran, while waving Iran's flags and holding pictures of Iran's late Supreme Leader Ali Khamenei and his successor, Mojtaba Khamenei.
The marchers condemned the "crimes" committed by the United States and Israel, voiced their support for the Iranian armed forces, and pledged allegiance to the new supreme leader.
According to the official news agency IRNA, Tehran's central areas near the rally path came under U.S. and Israeli airstrikes in the early minutes of the gathering, killing at least one person. Addressing reporters after the strikes, Larijani said the attacks are "out of fear and desperation."
Araghchi said despite the attacks today, millions of people have taken part in the rallies across Iran, which shows "the Iranians' firm determination and will in supporting" the country.
On Feb 28, Israel and the United States launched joint attacks on Tehran and several other Iranian cities, killing Iran's then Supreme Leader Ali Khamenei, along with senior military commanders and civilians. Iran responded by launching waves of missile and drone strikes targeting Israel and U.S. bases and assets in the Middle East.
Iran's Assembly of Experts on Sunday announced the appointment of Mojtaba Khamenei as Iran's new supreme leader.
Iranians hold mass rallies to mark Quds Day amid U.S.-Israeli attacks
