China’s rising inflation may lose momentum

Higher costs: A worker assembles a vehicle at a factory in Qingzhou. The producer price index, which gauges factory-gate industrial goods prices, rose 13.5% year-on-year last month. — AFP

BEIJING: China’s rising factory-gate inflation may lose some momentum after hitting a record high in October and mitigate the cost pressure facing the economy over the coming months, experts said.

The producer price index (PPI), which gauges factory-gate industrial goods prices, rose 13.5% year-on-year (y-o-y) last month, up from 10.7% in September and reached a record high, the National Bureau of Statistics said.