COVID-19: China factory inflation hits new high


Source: taipeitimes.com taipeitimes.com

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China’s factory-gate inflation hit a 26-year high last month, while fresh COVID-19 outbreaks and soaring food and energy prices sent consumer prices up more than forecast, official figures showed yesterday. The producer price index (PPI) has been rising for four straight months, putting pressure on authorities to stop costs from running out of control, just as officials battle to kick-start a recovery in the world’s No. 2 economy. The reopening from lockdowns around the world has ramped up energy demand just as stockpiles are low, with supply struggles made worse by China’s drive to meet environmental targets. The PPI, which...