Factory inflation in China was at the slowest annual pace in eight months in February, but analysts foresee an increase in the near future thanks to growing global commodity prices, reports Reuters.
The producer price index (PPI) increased 8.8% on year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, easing from 9.1% growth in January but just higher than an 8.7% rise in a Reuters poll.
Many Chinese factories closed in the first half of February due to Lunar New Year festivities, putting a temporary leash on demand for raw materials. But the current war in Ukraine has since raised concerns of global supply disruptions, pushing commodity prices to decade-highs.
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