Pro­ducer price grows at fastest pace in Feb

New Straits Times - - Business -

China’s fac­tory gate prices rose at the fastest pace in more than eight years last month, of­fi­cial data showed yes­ter­day, fu­elling hopes the coun­try may ex­port in­fla­tion to the global econ­omy.

The pro­ducer price in­dex in­creased 7.8 per cent year-on-year, ac­cord­ing to the Na­tional Bu­reau of Sta­tis­tics, mark­ing the sixth straight month of rises and beat­ing econ­o­mist ex­pec­ta­tions of a 7.7 per cent jump in a Bloomberg poll.

It was the fastest growth rate since Septem­ber 2008 and marked an ac­cel­er­a­tion from the pre­vi­ous five months, rais­ing hopes that the pick-up in prices in the world’s top trad­ing na­tion could fil­ter through to other economies.

The on-year rise in pro­ducer prices was partly due to the com­par­i­son with a low fig­ure last year, when prices saw a “sharp de­crease” last month, said NBS an­a­lyst Sheng Guo­qing in a state­ment.

AFP PIC

China’s pro­ducer price in­dex rose 7.8 per cent year-on-year last month, mark­ing the sixth straight month of rises and beat­ing econ­o­mist ex­pec­ta­tions of a 7.7 per cent jump in a Bloomberg poll.

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