China’s producer inflation jumps to 4-year high, squeezing manufacturers
China's producer price inflation surged to its highest level in four years in June, piling pressure on manufacturers' profit margins as weak domestic demand limits their pricing power.
The faster growth in factory-gate prices owed partly to a low base of comparison a year earlier, though analysts said soft domestic demand meant deflationary pressures had yet to ease meaningfully.
Evidence of subdued domestic demand was underscored by China's auto sales, which fell for a ninth consecutive month in June, prompting carmakers to turn to external markets.
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