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China’s factory gate inflation hits 26-year high -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A flock of birds fly above a closed-off steel plant where you can see the chimneys from a second factory. Tangshan province, China. February 27, 2016, at 7:27 p.m. REUTERS/Kim Kyung-Hoon/File Photo

BEIJING, (Reuters) – China’s October factory gate price rose at an unprecedented pace in 1995. This beat forecasts. It also squeezed profit margins further for those producers who are struggling with rising coal prices and other commodities costs.

According to the National Bureau of Statistics, 13.5% of the producer price index (PPI), a rise faster than September’s 10.7% increase, was reported in a statement.

Reuters polled analysts to forecast that PPI would increase by 12.4%.

According to NBS data, China’s Consumer Price Index (CPI), grew 1.5% in October, a 1.7% increase over September’s 0.7% and surpassing the 1.4% rise predicted by the Reuters poll.

New curbs against COVID-19 epidemics and power shortages have caused a slowdown of momentum in the second-largest country. This is in addition to a real estate debt crisis.

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