China factory inflation jumps as officials warn of risks

china factory inflation jumps as officials warn of risks

Sumary of China factory inflation jumps as officials warn of risks:

  • BEIJING (BLOOMBERG) – China’s producer prices climbed the most since July 2018 as commodity costs surged, a worrying sign for policy makers seeking stable inflation and adding to global risks..
  • The producer price index rose 4.4 per cent in March from a year earlier after gaining 1.7 per cent in February, the National Bureau of Statistics said on Friday (April 9), higher than the 3.6 per cent median estimate in a Bloomberg survey of economists..
  • After months of deflation, producer prices have started to pick up sharply this year as the cost of oil, copper and agricultural goods rally..
  • That’s gained the attention of top policy makers, with the Financial Stability and Development Committee chaired by Vice Premier Liu He calling for efforts to stabilize prices this week..
  • As the world’s biggest exporter, rising prices in China threaten to stoke global inflation further and add more turmoil to financial markets..
  • Inflation risks are already mounting because of a stronger recovery in the world economy, massive fiscal stimulus in the US and soaring shipping costs..
  • “The higher-than-expected PPI data could impact people’s judgement of inflation pressure in the US and globally, and this impact shouldn’t be underestimated.”.
  • Surging Profits The inflation data showed consumption is still subdued, giving the central bank reason not to tighten monetary policy anytime soon..
  • “The recovery of manufacturing industry is fast, but the speed of the consumption rebound is less than ideal,”…

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