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China’s Factory Gate Inflation Reaches Record High in September

October 14, 2021 by Forex Winner Leave a Comment

China’s Factory Gate Inflation Reaches Record High in September

Source: National Bureau of Statistics of China

China’s factory gate inflation in September increased to a record on rising commodity prices, but weak demand slowed down consumer inflation, demanding caution from policymakers. CSI 300 Index down -0.54%, CNY USD down -0.12%

  • The producer price index (PPI) jumped 10.7% from a year earlier in September, the biggest increase since the National Bureau of Statistics started gathering the data in 1996.
  • Producer prices have expanded due to output curbs triggered by a power shortage and a months’ long increase in global commodity prices. 
  • But Chinese companies are reluctant to pass on the increased costs to local customers due to weak orders.
  • Figures on Thursday indicated that consumer inflation cooled down last month, attributable to weak demand for products from clothing to household appliances and a decline in volatile food prices.
  • Tang Jianwei, a chief macroeconomics analyst at BOCOM, stated that China’s mixed inflation view increased a dilemma for the country’s monetary institutions.
  • Power Shortage in September also added to the price pressures in China, disrupting output across critical sectors, including the cement, steel, and aluminum industries.

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