Arabic version: ارتفاع أسعار المنتجين في الصين بأسرع وتيرة منذ 2022

According to Cnbc, China’s producer price index rose 5.7% in October, the fastest pace since June 2022 and above the 5.3% forecast in a Reuters poll.

Producer-price growth accelerated for a third consecutive month, driven by a sharp increase in prices in the mining and raw-materials industries. Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, said very strong external demand was behind the increase.

Consumer inflation, however, slowed to 0.7% in October from 0.9% in September. The result was below economists’ expectation for a 0.8% increase and marked the first deceleration after two straight months of gains.

Core inflation, excluding food and energy prices, fell to 0.8% from 1% in the prior month. Gasoline prices were the largest contributor to consumer-price increases, but a sharper-than-expected decline in food prices offset their effect, Dong Lijuan of China’s National Bureau of Statistics said.

China’s economy has recently shown signs of expansion, including faster-than-expected third-quarter growth and a sharp retail-sales beat in September. The CSI 300 index rose 0.56% after the data release. Zhang said weak domestic demand linked to the property market continued to weigh on household confidence, local-government revenue and overall economic momentum.