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China’s factory gate inflation hits record high in September

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Reuters

BEIJING (Reuters) -China’s annual factory gate prices grew at their fastest pace on record in September, driven by energy curbs and soaring commodity prices, piling pressure on businesses already grappling with supply bottlenecks. The producer price index (PPI) rose 10.7% from a year earlier in September, the National Bureau of Statistics (NBS) said on Thursday, the biggest rise since the data began to be compiled in 1996. Economists in a Reuters poll had expected the PPI to rise 10.5% after a 9.5% increase in August. A widening power shortage in China, caused by the country’s transition to cl…

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