China's factory gate prices rose at the fastest pace in 26 years in October, beating forecasts and further squeezing profit margins for producers already grappling with soaring coal prices and other commodity costs due to a power crunch.
The producer price index climbed 13.5% from a year earlier, faster than the 10.7% rise in September, the National Bureau of Statistics said in a statement.
The jump was fuelled by higher raw material costs and factory production cuts, as government restrictions on carbon emissions and soaring prices of coal, a key fuel for electricity generation, led to power rationing. China's consumer price index grew 1.5% in October year-on-year, quickening from September's 0.7% rise and beating the 1.4% gain tipped by the Reuters poll, according to NBS data.
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