China Inflation Accelerates on Global Energy Prices

China’s consumer and factory-gate inflation accelerated in August, driven by rising global energy and commodity prices.

The consumer price index (CPI) rose 0.8% year-on-year, up from 0.5% in July, matching market expectations. 

The producer price index (PPI) jumped 3.8%, beating forecasts and accelerating from a 3.5% rise in July, according to the National Bureau of Statistics on Wednesday. 

Rising energy costs, which jumped 4.1% year-on-year, were the primary catalyst for the consumer inflation uptick. The core CPI, which strips out volatile food and energy costs, edged up to 1%.