BEIJING: China’s factory gate prices increased at the fastest pace since September 2008, official data showed on Wednesday, while consumer inflation also accelerated but at a slower-than-expected rate.
The producer price index (PPI) rose 9.0per cent from a year earlier in May, according to a statement from the National Bureau of Statistics. Analysts in a Reuters poll had expected the PPI to rise 8.5per cent after a 6.8per cent increase in April.
The consumer price index (CPI) rose by 1.3per cent from a year earlier, the statistics bureau said. Analysts in the poll had expected the CPI to rise 1.6per cent after a 0.9per cent increase in April.
(Reporting by Liangping Gao, Stella Qiu and Ryan Woo)
Source: Reuters
Read More
