China Producer Inflation Accelerates to Strongest Since June 2022
Producer prices rose 5% in September, while consumer inflation reached 0.9% as gasoline costs climbed and food prices fell.
Key takeaways
- Producer prices rose 5% in September, up from 3.8% the previous month.
- Consumer prices rose 0.9%, as gasoline prices climbed and food prices fell.
China's producer price index rose 5% in September, its fastest increase since June 2022, beating economists' 4.5% expectation. The increase accelerated from 3.8% the previous month.
The National Bureau of Statistics said coal prices rose amid stronger demand for winter heating, temporary supply tightness in major coal-producing areas and expectations of higher international coal prices.
Consumer prices rose 0.9%, below the 1% expected but up from 0.8% the month before. NBS statistician Dong Lijuan said gasoline prices rose 16.6% and added about 0.47 percentage points to the consumer price increase, while food prices fell 1.7% and subtracted 0.29 points.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
