Growth in China’s factory-gate prices accelerates, but consumer inflation subdued

Growth in Chinese factory-gate prices continued to accelerate last month, while consumer price growth remained subdued despite Beijing’s efforts to shore up domestic demand and support the economy in meeting its annual growth target. The producer price index (PPI) rose 5 per cent year on year in September, the highest rate since mid-2022, according to data released by the National Bureau of Statistics on Wednesday. It rose by 3.8 per cent in August. The reading beat a projection of 4.3 per cent.