China factory inflation higher than expected as oil prices bite ...Qatar

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China factory inflation higher than expected as oil prices bite
China’s factory-gate inflation was higher than expected in March, official data showed on Monday, as Russia’s war on Ukraine pushes up oil prices while a domestic Covid-19 resurgence strains food supplies and consumer costs. The producer price index (PPI) — measuring the cost of goods at the factory gate — grew 8.3% on-year, National Bureau of Statistics (NBS) figures showed. This was slightly more than a Bloomberg poll of economists expected, while PPI also rose on-month. “Geopolitical and other factors have pushed global commodity prices to continue increasing, driving the prices of oil, non-ferrous metals and other related industries to rise further domestically,” NBS senior statistician

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