Production costs remain high in October

China's producer's price index (PPI) for manufactured goods increased 3.2% in October over the same time last year, according to the National Bureau of Statistics, Economic Observer reported (in Chinese). The PPI for consumer goods rose by 3.5%, with food prices growing by a record 8.6%. The PPI for raw materals and primary energy also jumped, as crude oil increased by 4.2%, crude coal went up 5%, steel rose by 9.5% to 18.8% (for different types), aluminium went up 0.7% and lead increased by 47.7%.