8 days ago • Posted by William Ramstein
China producer price index rises 9% in May
China's producer prices rose 9% YoY in May 2021, accelerating from a 6.8% gain in the previous month. This represents the fifth straight month of increases in factory gate prices and the steepest pace seen since September 2008. The index's rise is driven by an international rally in commodities markets as well as a low base effect after being in negative territory for most of the last year. Rising producer prices could impact consumer prices in China, something that would add to global inflationary pressures. The Chinese has gone after commodity monopolies in an attempt to sooth the speculative drive in commodities like steel.
Source Trading Economics