(Yicai Global) Sept. 10 -- China's producer price index fell 0.8 percent on the year in August, widening the 0.3 percent decline in July, according to the National Bureau of Statistics.

The figure, which is based on factory gate prices and is a key indicator of corporate profitability, fell 0.1 percent monthly to narrow the month-on-month decline of 0.2 percent in January, the NBS said. The PPI over the first eight months was up 0.1 percent from the year-ago period.

The bureau offered no reason for the slide.