China’s producer prices rose 5.7% in October from a year earlier, the National Bureau of Statistics said Monday, the fastest pace since June 2022. The reading topped the 5.3% forecast in a Reuters poll and accelerated from 5.0% in September.
Mining prices climbed 27.9% from a year earlier and raw materials rose 11.6%, while consumer goods prices slipped 0.1%. Producers’ purchase prices increased 7.9%.
Consumer prices grew more slowly. The consumer price index rose 0.7% from a year earlier, below the 0.8% forecast and down from 0.9% in September. Prices were flat from the previous month. Core inflation, which excludes food and energy, eased to 0.8% from 1.0%.
Vehicle fuel prices jumped 20.2%, while food prices fell 2.9%, including a 16.9% drop in fresh vegetables. China’s CSI 300 index gained 0.56% after the data release, CNBC reported.
