China’s producer inflation reached 5.7% — CNBC

In China, the producer price index rose by 5.7% in October. This was the highest growth rate since June 2022, and the acceleration in producer inflation has continued for the third consecutive month.

The figure exceeded forecasts

Economists surveyed by Reuters expected the producer price index to rise by 5.3%. The actual result exceeded the forecast by 0.4 percentage points, CNBC reports.

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Consumer inflation slowed

At the same time, consumer inflation in China slowed to 0.7% in October. This was the first slowdown after two months of growth in the indicator. In September, consumer inflation stood at 0.9%, while economists surveyed by Reuters forecast an October level of 0.8%.

CNBC also notes that the Chinese economy has recently shown signs of expansion. In the third quarter, it grew faster than expected, while retail sales in September substantially exceeded forecasts.