China's producer price index rises in May at fastest pace in 12 years

Politics Economy

China's producer price index in May rose at its fastest pace in more than 12 years, surging 9.0 percent from a year earlier, against a backdrop of increasing global raw materials prices, the government said Wednesday. The index, a measure of the prices of goods traded between companies, marked the sharpest gain since September 2008, while increasing for the fifth straight month. It climbed 6.8 percent in April from the same month last year. Behind the surge was a global rise in the prices of crude oil and other raw materials, economists said. China's consumer price index, meanwhile, was up 1.3...

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