9th Dec 2016 06:16
BEIJING (Alliance News) - China's producer price index measuring wholesale inflation beat analyst expectations to reach a five-year-high in November, official figures released Friday showed.
The reading was up 3.3% year on year, the highest since October 2011, according to the National Bureau of Statistics.
China's consumer price index, another main gauge of inflation, rose 2.3% year on year in November.Â
Factors such as rising prices for coal and steel might have contributed to the recovery, China's state-run Xinhua news agency said.
Rising consumer prices put upward pressure on wages, but falling producer prices push companies' income down.
Most analysts predict China will be able to meet its lowered growth target for 2016 of 6.5 to 7%. Â Â
China's economy grew by 6.9% in 2015, the weakest in a quarter century.
Copyright dpa