China’s factory inflation surges again on commodity prices

HONG KONG (Bloomberg): China’s factory inflation surged again in July, following a short-lived retreat in the previous month, as commodity prices remained high despite the government’s steps to rein in costs.

The producer price index grew 9% in July from a year earlier, the National Bureau of Statistics said Monday (Aug 9), quickening from 8.8% in the previous month and beating the median forecast of an 8.8% gain. Consumer prices rose 1% in July, easing for a second month but remaining above the median estimate of 0.8%.