China's factory rates soar in May but consumers avoid cost surge
10 June, 2021
China's factory gate inflation rose at the best rate in over ten years last month, official data showed Wednesday, as the world's second-largest overall economy works to contain a surge in commodity prices.
Factories so far seem to be to get absorbing costs instead of passing them to consumers as household demand recovers from the strict coronavirus lockdowns imposed this past year.
The producer price index (PPI), which actions the expense of goods at the factory gate, exceeded expectations to spike 9.0 percent on-year in May, stated the National Bureau of Statistics.
This marks its highest hop since September 2008.
In particular, rates in the oil and natural gas extraction industry rose 99.1 percent from this past year, stated NBS senior statistician Dong Lijuan.
But consumer rates were "generally steady", Dong said.
The buyer price index (CPI), an integral gauge of retail inflation, rose less than likely to 1.3 percent on-year, official data showed.
China's CPI features been driven up lately by pork rates after an African swine fever outbreak ravaged stocks, but this has since usually stabilized with boosted materials of the staple meats.
Dong said Wednesday that "live pig creation continued to recuperate and the pork source continued to improve".
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