Apr 11, 2022 04:59 PM

ECONOMY

China Inflation Exceeds Expectations on Oil, Covid Disruptions

A worker stands in front of a machine on a yarn production line at a Fujian Strait Textile Technology factory in Putian, East China’s Fujian province, in February 2021. Photo: Bloomberg

A worker stands in front of a machine on a yarn production line at a Fujian Strait Textile Technology factory in Putian, East China’s Fujian province, in February 2021. Photo: Bloomberg

(Bloomberg) — China’s factory gate prices rose more than expected in March as oil prices climbed, putting pressure on manufacturers that are already struggling to operate amid repeated Covid outbreaks.

The producer price index gained 8.3% from a year earlier, official data showed Monday, down from 8.8% in February and above the median estimate of an 8.1% increase in a Bloomberg survey of economists.

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