Caixin
Nov 16, 2021 09:20 PM
ECONOMY

China Plays Down Stagflation Concerns as Commodity Price Gains Seen Easing

Fu Linghui, spokesperson of the National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS. Photo: Scio.gov
Fu Linghui, spokesperson of the National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS. Photo: Scio.gov

China’s statistics bureau has played down concerns that the world’s second-largest economy risks falling into stagflation, describing this year’s surge in factory-gate prices as a temporary phenomenon caused by short-term disruptions that are gradually being addressed.

Rising global commodity prices and domestic supply shortages of some energy and raw materials are the main reasons for the jump in producer-price inflation that’s affected China this year, Fu Linghui, a spokesman for the National Bureau of Statistics, said at a briefing on Monday after the release of October monthly economic activity data. The increase in commodity prices has led to higher costs for some businesses, he said.

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