{"id":124566,"date":"2021-05-11T03:58:05","date_gmt":"2021-05-11T03:58:05","guid":{"rendered":"https:\/\/precoinnews.com\/?p=124566"},"modified":"2021-05-11T03:58:05","modified_gmt":"2021-05-11T03:58:05","slug":"chinas-factory-gate-prices-surge-by-most-in-over-3-years","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/chinas-factory-gate-prices-surge-by-most-in-over-3-years\/","title":{"rendered":"China&#x27;s factory-gate prices surge by most in over 3 years"},"content":{"rendered":"<ul>\n<li>China&#x27;s factory gate prices rose at the fastest rate in three and a half years in April, official data showed on Tuesday.<\/li>\n<li>Investors globally are increasingly worried that pandemic-driven stimulus measures could spark a rapid rise in inflation and force central banks to raise interest rates and take other tightening measures, potentially holding back economic recovery.<\/li>\n<li>Chinese authorities have repeatedly said they will avoid sudden policy shifts that could derail the recovery, but are slowly normalizing policy and clamping down on property speculation in particular.<\/li>\n<\/ul>\n<p>China&#x27;s factory gate prices rose at the fastest rate in three and a half years in April, official data showed on Tuesday, as the world&#x27;s second-largest economy continued to gather momentum following record-setting growth in the first quarter.<\/p>\n<p>The producer price index (PPI), a gauge of industrial profitability, rose 6.8% from a year earlier, the National Bureau of Statistics said, ahead of a 6.5% rise tipped by a Reuters poll of analysts and a 4.4% rise in March. The consumer price index (CPI), however, rose a modest 0.9%.z<\/p>\n<p>Investors globally are increasingly worried that pandemic-driven stimulus measures could spark a rapid rise in inflation and force central banks to raise interest rates and take other tightening measures, potentially holding back economic recovery.<\/p>\n<p>&quot;Price surges have spread to mid-stream products, and will continue to affect mid-stream and downstream merchandise, driving an increase in costs for the whole society,&quot; said Hu Yanhong, an analyst at Yingda Securities.<\/p>\n<p>&quot;It could become an obstacle to the economic advances.&quot;<\/p>\n<p>Chinese authorities have repeatedly said they will avoid sudden policy shifts that could derail the recovery, but are slowly normalizing policy and clamping down on property speculation in particular.<\/p>\n<p>The sharp jump in producer prices included an 85.8% surge in the oil and natural gas extraction sector from a year ago, while the melting and processing of ferrous metals rose 30%, said Dong Lijuan, senior NBS statistician in a statement accompanying the data release.<\/p>\n<p>Still, PPI rose 0.9% in April from a month ago, easing from a 1.6% gain the previous month.<\/p>\n<p>China&#x27;s export growth beat market expectations in April while imports for the month hit a decade high, official data showed on Friday, underscoring robust economic activity for the world&#x27;s second-largest economy.<\/p>\n<p>The country&#x27;s gross domestic product (GDP) expanded by a record 18.3% in annual terms in the first quarter as the country recovers from the devastating impact of Covid-19. Many economists expect China&#x27;s GDP growth to exceed 8% in 2021, although some warn that continuing global supply chain disruptions and higher comparison bases will sap some momentum in coming quarters.<\/p>\n<p>The 0.9% CPI increase in April from a year earlier was up on a 0.4% rise in March, driven mostly by gains in non-food prices. However, it missed analysts&#x27; expectations for a 1.0% rise.<\/p>\n<p>Food inflation remained weak. Prices dropped by 0.7% from a year earlier, unchanged from the previous month, weighed by falling pork prices.<\/p>\n<p>Non-food inflation accelerated to 1.3% year-on-year in April from 0.7% increase in the previous month, as airfares and retail oil prices surged.<\/p>\n<p>Core inflation, which excludes volatile energy and food prices, rose 0.7% in April, up from 0.3% in March.<\/p>\n<p>Despite rising pressure from imported global inflation, China&#x27;s full-year CPI is likely to be significantly below the official target of around 3%, deputy director at NBS Sheng Laiyun, said on Friday in an interview with Economics Daily.<\/p>\n<p>Sheng attributed China&#x27;s likely muted inflation to currently slow core inflation, economic fundamentals where supply has outstripped demand, relatively restrained macropolicy support, recovering pork supply and a limited pass-through effect from PPI to CPI.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/05\/11\/china-ppi-cpi-for-april-2021.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#x27;s factory gate prices rose at the<\/p>\n","protected":false},"author":3,"featured_media":124565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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