China factory prices soar but consumers avoid cost surge kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.
China’s factory-gate inflation last month rose at the highest rate in more than a decade, official data showed yesterday, as the world’s second-largest economy worked to contain a surge in commodity prices.
Factories so far seem to be absorbing costs rather than passing them on to consumers as domestic demand recovers from the strict COVID-19 lockdowns imposed last year.
The producer price index (PPI), which measures the cost of goods at the factory gate, exceeded expectations, spiking 9 percent year-on-year last month, the Chinese National Bureau of Statistics (NBS) said.
It was its highest jump since September 2008.
In particular, prices in the oil
China's services sector maintained its strong expansion last month as offline activities like travel and dining revived despite the marginal resurgence in local COVID-19 cases, experts said on Thursday.
China s services sector maintained its strong expansion last month as offline activities like travel and dining revived despite the marginal resurgence in local COVID-19 cases, experts said on Thursday.
The Caixin China General Services Purchasing Managers Index, a private gauge of the country s services activity, came in at 55.1 in May, down from 56.3 in April but firmly above the 50-mark that separates expansion from contraction, pointing to a marked increase in services activity.
Underpinning the robust expansion have been a sustained recovery in market sales, rising staffing levels, and upbeat business expectations, media group Caixin said in a report on Thursday.