(NBS) Factory gate inflation in China rose 13.5% in October from the prior year, the highest since July 1995 and higher than forecasted 12.4%.
On a monthly basis, the producer prices ticked higher by 2.5%, more than double an increase of 1.2% in September.
Coal mining and washing prices jumped 103.7% year over year, contributing the highest in factory gate price increases. Prices in the oil and gas extraction industry saw a 59.7% increase.
The high increase in producer prices in China fuels stagflation concerns as the country also fights a power crunch and slowing growth, while industrial firms’ margins are squeezed by rising costs.
Consumer prices rose slower than factory costs, with the annual inflation up 1.5% in October, still more than double a rise of 0.7% in September.
Core inflation, which excludes volatile food and energy prices, rose 1.3% year over year, higher than an increase of 1.2% in September.
CSI 300 is down -0.53%, USDCNY is down -0.01%.
