BEIJING, Oct. 14 (BUS) – China’s annual factory gate prices rose more quickly than expected in September, driven by soaring raw material prices, adding pressure on companies already struggling with energy constraints and supply bottlenecks.
The National Bureau of Statistics said Thursday that the Producer Price Index (PPI) rose 10.7% from a year earlier in September, its fastest pace since it began compiling data in October 1996. Reuters reported that compared to an increase of 10.5 percent expected in a poll. conducted by Reuters and increased by 9.5 percent in August.
Data from the National Bureau of Statistics also showed that China’s consumer price index rose 0.7% year-on-year in September versus an expected 0.9% increase in a Reuters poll and a 0.8% increase in August.
MI