- Producer prices rise at faster pace, adds to business strains
- July PPI +9.0 y/y vs +8.8% poll, +8.8% in June
- July CPI +1.0% y/y vs +0.8% poll, +1.1% in June
BEIJING, Aug 9 (Reuters) – China’s factory gate prices in July rose at a faster clip from the previous month and exceeded analyst expectations, adding to pressure on businesses struggling with high raw material costs, while consumer inflation eased slightly.
The producer price index (PPI) grew 9.0% from a year earlier, matching the high seen in May, the National Bureau of Statistics (NBS) said in a statement on Monday. Analysts in a Reuters poll had expected the PPI to rise 8.8%, unchanged from June.
China’s economy has largely recovered from disruptions caused by the COVID-19 pandemic,…