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Economy

China factory gate inflation hits fresh high of 13.5% in October

Manufacturers continue to grapple with lofty commodity prices

SHANGHAI -- China's producer price index hit a record high of 13.5% year-on-year in October, the National Bureau of Statistics said on Wednesday, fueling headwinds to the country's economy as manufacturers continue to grapple with high commodity prices.

The rise in factory gate inflation, which was widely expected by economists, passed the September record of 10.7%, the fastest pace since China started providing such data in October 1996. Higher production costs were recorded in 36 of 40 industrial sectors, the same number as in September, the bureau said, citing coal mining, oil and gas, and ferrous metal smelting as some of the fields that were affected.

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