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China’s Factory Prices Growth Quickens in July, Adding to Business and Economic Pressures

Businessman using the tablet on Abstract blurred photo of book store background

China’s factory prices increased in July at a faster-than-anticipated rate, adding to pressure on businesses crumpling with the high cost of raw materials as consumer inflation eased slightly.

Source: National Bureau of Statistics of China

CSI 300 Index up 1.30%,  CNY USD up +0.06%

The Chinese economy is on track to grow by over 8% in 2021, but supply chain bottlenecks and outbreaks of the Delta variant of COVID-19 might slow down the projected growth.

China’s producer price index (PPI) increased by 9.0% from a year earlier last month, matching the high recorded in May.

Consumer inflation slowed slightly as the consumer price index (CPI) grew by only 1.0% on a yearly basis, beating expectations of rising by 0.8%.

The world’s second-biggest economy has largely recovered from disruptions caused by the COVID-19 pandemic, but the expansion is losing momentum as businesses suffer from higher commodity prices.


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