Chinese factory price hikes spark global inflation fears
Prices charged by factories in China have risen at the steepest rate for more than three years, sparking inflation fears across the globe.
Data from China’s National Bureau of Statistics revealed that the producer price index jumped 6.8% in the year to April, up from 4.4% the previous month.
The scale of the price increases also outstripped the 6.5% that had been predicted by analysts.
The increase in factory gate inflation was driven by a spike in commodity prices – the cost of raw materials increased 15% in the year to April.
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