China‘s factory gate inflation hit a 13-year high in August driven by roaring raw materials prices despite Beijing’s attempts to cool them, putting more pressure on manufacturers in the world’s second-largest economy. The producer price index (PPI) rose 9.5% from a year earlier in August, the National Bureau of Statistics (NBS) said on Thursday, faster than the 9.0% increase tipped in a Reuters poll and the 9.0% reported in July. That was the fastest pace since August 2008.China’s economy has recovered strongly from last year’s coronavirus slump but has been losing steam recently due to domestic Covid-19 outbreaks, high raw material prices, tighter property curbs and a campaign to reduce carbon emissions.
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Biden accepts a deal on infrastructure brokered by bipartisan group of senators
Jun 25, 2021 - 6:33 am EDT
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WASHINGTON (TIP): President Joe Biden said Thursday, June 24, he has agreed to a deal on infrastructure with a bipartisan group of senators after White House officials and the senators had a massive breakthrough the […]

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