Money Talks

China's producer price inflation accelerated to 13.5% in October | Money Talks

Chinese stocks are set for their biggest one-day loss in two months as price pressures continued to mount in the world's second largest economy. Benchmarks in Shanghai and Hong Kong are down more than one percent. That's after China's statistics bureau said producer prices in October climbed 13-and-a-half percent, the fastest rate in 26 years. Higher commodity prices and output curbs caused by a power shortage have led to higher costs for China's factories. Companies are also starting to pass on those expenses to their customers. And households are dealing with the effects of bad weather in some parts of the country. That's made food like vegetables, meat and cooking oil more expensive. As a result, consumer prices rose faster than expected at 1-and-a-half percent, the most in more than a year. #China #ChineseEconomy #AsiaMarkets

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