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China Producer Prices Jump, Adding to Global Inflation Risks

  • Oil prices also rising, shipping costs have soared recently
  • Financial markets roiled by expectations of higher inflation
Construction of the Fuzhou-Xiamen High-Speed Railway Project's Meizhou Bay Cross-Sea Bridge As China Drives Home Commitment to New Infrastructure Investment
Photographer: Qilai Shen/Bloomberg
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China’s producer prices rose at the fastest pace in more than two years in February, joining more expensive oil, computer chip shortages and soaring shipping costs as tailwinds for global inflation pressures.

The Chinese producer price index rose 1.7% from a year earlier, official data showed Wednesday, stronger than economists’ forecasts for a 1.5% increase and up from 0.3% in January. Consumer prices fell 0.2% last month from a year earlier, slightly better than a projected 0.3% decline.