Factory gate prices in China rose at their fastest pace in 26 years in October, as crippling power shortages and record commodity prices hit the world’s second-biggest economy.
China’s official producer price index increased 13.5 per cent compared with October 2020, according to figures released by the National Bureau of Statistics on Wednesday, its biggest monthly jump since 1995.
The gain exceeded the 12.4 per cent rise forecast by analysts polled by Reuters, and outpaced September’s 10.7 per cent reading, which was also the highest since 1995.
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