China’s factory gate prices rise in October

Stagflation has moved a step closer to China’s shores. Data released on Nov 10 showed factory gate prices and consumer inflation accelerating at a time when economic growth is showing signs of slowing. If stagflation takes hold, it potentially means higher unemployment. The producer price index shot up 13.5 per cent in October. It is the fastest pace of producer output inflation since late-1995. The consumer price index inched up by 1.5 per cent, also higher than expected.

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