Producer prices in China rose the most in 25 years in October due to rising coal prices.
The producer price index increased by 13.5% compared to the previous year, from an increase of 10.7% in September, according to the statistical service.
The October data showed the largest increase since 1996, when data began to be recorded.
The rise was higher than estimates by 12.5%. On a monthly basis, the producer price index increased by 2.5% in October.
Coal prices are what drove the rise. With carbon supply limited, prices jumped in October.
Prices for coal mining increased by 103.7%.
The consumer price index recovered in October thanks to rising vegetable prices.
Inflation stood at 1.5% in October, double the 0.7% in September. Estimates spoke of an increase to 1.4%.
“The price of fresh vegetables increased by 16.6%, affecting the rise in the consumer price index by about 0.34% and corresponding to almost 50% of the total increase,” said a statistician from the China Bureau of Statistics.
Source From: Capital