Upstream industries drove factory gate price rises, with coal mining and washing prices surging 104% from a year earlier
Employees wearing face masks work at a factory in Beijing, China. Picture: REUTERS/THOMAS PETER
Consumer price rises also quickened, though at a slower pace than factory gate prices. The consumer price index rose 1.5% in October year on year, compared with September’s 0.7% rise. Slowing economic growth and soaring factory inflation have fuelled concerns over stagflation, which could mean China has to move cautiously on loosening monetary policy.
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