It is the first slowdown since the country’s producer price index turned positive in MarchChina has emerged from a record bout of deflation with weak upward momentum for prices. PHOTO: REUTERS[BEIJING] China’s factory-gate inflation eased for the first time since the Iran war broke out in late February, while consumer prices also decelerated, in another sign that cost pressures from the oil shock are starting to fade. That is the first slowdown since China’s producer price index turned positive in March on the back of higher oil prices, after more than three years of declines. Consumer inflation decelerated to 0.5 per cent from 1 per cent in June. The core consumer price index, which strips out volatile food and energy items, eased from 1 to 0.9 per cent.