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Economy

China factory gate prices rise at fastest pace on record

Producer price index jumps 10.7% in September as commodity prices surge

Soaring raw material prices have piled pressure on Chinese businesses already grappling with energy curbs and supply bottlenecks.   © Reuters

SHANGHAI -- China's producer price index jumped 10.7% year-on-year in September, as manufacturers grappled with rising commodity price pressures, electricity shortages and supply chain delays.

The rise in factory-gate prices was the fastest since China started compiling such data in October 1996, according to National Bureau of Statistics data published Thursday. The price increase beat market expectations -- 10.5% in a Reuters poll, putting further pressure on the country's COVID-19 recovery.

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