Business

Chinese manufacturer prices are growing at the fastest pace in 13 years


The price of goods leaving Chinese factories has risen at the fastest pace since the global financial crisis, putting pressure on the country’s leaders as they struggle to rally goods.

China’s producer price index rose 9 percent in May, according to data from the National Bureau of Statistics on Wednesday, the biggest increase for the year since September 2008, higher than economists had forecast.

Index grows sharply in recent months – gaining 6.8 percent In April, it was facilitated by the low base effect after being in negative territory for most of last year.

The price of raw materials, which make up the bulk of China’s PPI, rose sharply last month. NBS data show that non-ferrous metal foundry prices rose 38 percent year on year, while coal mining prices rose 30 percent.

China is strong industry recovery The product has been promoted among the products, but when costs rise, profits are at risk of being squeezed.

The Chinese government’s economic planning agency warned last month “Excessive speculation” In commodity markets, he said, it would tighten monopolies against false information. The iron ore that hit her in May highest level When did he fall on the news?

The government also stressed the need to prevent the penetration of consumer prices, which remain low over the past year due to volatile pork prices. Economists say there will be big costs instead squeeze the margins of businessespecially for those who sell directly to consumers.

Consumer prices rose 1.3 percent in May, the highest since September last year, but fell 0.2 percent month-on-month, according to NBS.



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