China’s factory inflation surged again in July, following a short-lived retreat in the previous month, as commodity prices remained high despite the government’s steps to rein in costs, reported Bloomberg.
The producer price index grew 9% in July from a year earlier, the National Bureau of Statistics said Monday, quickening from 8.8% in the previous month and beating the median forecast of an 8.8% gain.
Consumer prices rose 1% in July, easing for a second month but remaining above the median estimate of 0.8%.