china producer prices jump 78 in february govt
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

China producer prices jump 7.8% in February: govt

Arab Today, arab today

Arab Today, arab today China producer prices jump 7.8% in February: govt

China's producer price index (PPI) rose 7.8 percent year-
Beijing - AFP

China's factory gate prices rose at the fastest pace in more than eight years in February, official data showed Thursday, fuelling hopes the country may export inflation to the global economy. 
The producer price index (PPI) increased 7.8 percent year-on-year, according to the National Bureau of Statistics (NBS), marking the sixth straight month of rises and beating economist expectations of a 7.7 percent jump in a Bloomberg poll.
It was the fastest growth rate since September 2008 and marked an acceleration from the previous five months, raising hopes that the pick-up in prices in the world's top trading nation could filter through to other economies. 
For years the world economy has been mired in tepid inflation or deflation which, if persistent, tends to be bad for industrial prospects and economic growth because customers delay purchases in hopes of yet-cheaper deals in the future, starving companies of business and funds.
The on-year rise in producer prices is partly due to the comparison with a low figure last year, when prices saw a "sharp decrease" in February, NBS analyst Sheng Guoqing said in a statement. 
China's Lunar New Year holiday falls in January or February and is often blamed for interfering with economic data for the first two months. 
Increases in oil and natural gas exploitation, coal mining as well as metal smelting also contributed to the expansion, he added.
- 'Strange reflation' -
The figures follow upbeat reports on China's fourth-quarter economic growth as well as February factory activity and imports that were driven by higher commodity prices.
The "strange reflation" helps "corporations by allowing them to push up prices and generate the needed revenues to cover their very high debt burden", said Natixis analyst Alicia Garcia Herrero.
But the soaring PPI, which "may have already peaked", did not push CPI up "because there is no recovery in demand yet", Zhou Hao with Commerzbank AG told Bloomberg.
Downstream sectors may not reap the benefits of factory gate inflation as "there are few signs" that sales prices are reflecting the rising costs of raw materials, Nomura analyst Zhao Yang said in a note.
The data also weakened investors' confidence, sending the benchmark Shanghai Composite Index down by 0.74 percent, as the market is wary of possible interest rate hike, Zheshang Securities analyst Zhang Yanbing told AFP.
The consumer price index (CPI), a key gauge of retail inflation, rose 0.8 percent last month, missing the 1.7 percent increase estimated by economists and marking its slowest growth in two years.
Ample supply in vegetables and sagging demand for meat after the Chinese new year holiday resulted in a "marked drop" in food prices in the month, and a declining number of tourists after the festival also drove down costs of flights and hotels, Sheng said.
Inflation in the country's property sector, which will likely face credit tightening, has not flowed through to service sectors, as inflation in transportation, education, culture and entertainment was "very weak", Zhao Yang said.
Looking ahead, authorities will likely prioritise controlling credit risks over restraining inflation, given that consumer prices have still not breached policy makers' "comfort zone", Julian Evans-Pritchard of Capital Economics said in a note.
Authorities had vowed to keep the CPI increase "at around three percent" in a work report delivered to the National People's Congress on Sunday.


Source : AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china producer prices jump 78 in february govt china producer prices jump 78 in february govt

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china producer prices jump 78 in february govt china producer prices jump 78 in february govt

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 11:48 2016 Monday ,10 October

New mega-festival hears rock history via McCartney

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 21:49 2016 Monday ,03 October

OIC: JASTA law breaches international laws

GMT 14:19 2014 Saturday ,09 August

Morena Baccarin to reprise Erika Flynn

GMT 06:49 2017 Friday ,08 December

Scallops have 200 eyes, which function

GMT 21:40 2017 Friday ,06 January

Trump tells NYT Russian hack claim is 'witch hunt'

GMT 14:18 2017 Thursday ,19 January

At least 30 killed in Tehran's building fire

GMT 15:22 2016 Friday ,19 August

Abe, Putin To Meet in Russia

GMT 09:40 2016 Saturday ,17 December

Samba gets new rhythms 100 years after first recording

GMT 07:45 2017 Wednesday ,03 May

Actress Haifa Wahby bets on “Herbaya”

GMT 19:41 2018 Sunday ,16 September

UAE Cabinet approves new rule for retired expats

GMT 08:33 2013 Friday ,06 December

Jennifer Grout sings Arab\'s difficult songs

GMT 06:31 2016 Tuesday ,13 December

Parliament session postponed for 3 hours

GMT 03:58 2016 Thursday ,08 December

Iraqi forces repel attack by Daesh on Alas oil field

GMT 08:58 2016 Thursday ,01 September

In Mexico, Trump asserts US right to build border wall

GMT 10:33 2011 Wednesday ,02 November

Primitive body from solar system\'s planet-forming period

GMT 11:04 2016 Thursday ,21 April

Rihanna passes Beatles on US all-time hits list
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday