Rolling coverage of the latest economic and financial news
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Over in China, factory gate inflation has hit its highest level in 26 years -- as the global supply chain squeeze continues.
Chinese manufacturers hiked their prices by 10.7% year-on-year in September, as they passed on soaring commodity and energy prices onto their customers.
China PPI hits new modern record - rising to 10.7% year-on-year (vs. +10.5% expected) and thus the highest level since a year after its 1994 currency devaluation.
A rise in coal and natural gas prices have been a key driver of this development. This key inflation gauge deserves close consideration as the world watches for the degree to which “the world’s factory” passes along higher prices to global consumers of its production.
Continue reading...from The Guardian https://ift.tt/3lEnTOP
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