BEIJING (Reuters) – China’s factory-gate inflation picked up for the first time in nine months in March, lifted by price rises in global commodities as well as signs that government efforts to boost the economy may be putting a floor under domestic demand.
Pork for sale is seen at a supermarket in Beijing, China, April 11, 2019. REUTERS/Jason Lee
Consumer inflation also quickened, jumping to the highest since October 2018 as pork prices soared due to a growing epidemic of swine fever, official data showed on Thursday.
The step-up in producer inflation, while slight, will ease deflation worries and likely add to optimism that the world’s second-largest economy is starting to turn the corner. Recent surveys showed factory activity expanded for the first time in months