China factory prices rise 5% in September amid cost pressures
Business
China's factory prices shot up 5% in September, the fastest pace since June 2022.
Rising oil and raw material costs, thanks to global supply issues and tensions in the Middle East, are making it tougher for manufacturers, who now face higher bills just to keep things running.
China CPI 0.9%, consumers hold back
While factory costs soared, regular consumer prices (CPI) barely budged, up just 0.9% despite a big jump in gas prices.
Even with government efforts like infrastructure projects and mortgage perks, people are still holding back on spending.
Experts say closing the gap between what factories pay and what shoppers pay is key if China wants steady growth ahead.