News Snapshot:
China’s factory-gate inflation was higher than expected in March, official data showed Monday, as Russia’s war on Ukraine pushes up oil prices while a domestic COVID-19 resurgence strains food supplies and consumer costs. The producer price index (PPI) — measuring the cost of goods at the factory gate — grew 8.3 per cent on-year, National Bureau of Statistics (NBS) figures showed. This was slightly more than a Bloomberg poll of economists expected, while PPI also rose on-month. Also read | China makes secret delivery of anti-aircraft missiles to Serbia: Report “Geopolitical and other factors have pushed global commodity prices to...
