Good morning: Concerns about inflation are likely to rise further around the world today after new data showed factory gate prices in China rose at their fastest pace in more than 12 years in May. Producer prices rose by 9 per cent in May compared with a year earlier, up from 6.8 per cent the previous month and ahead of the consensus among economists of 8.5 per cent. This was the biggest rise in prices since September 2008. Manufacturers saw a sharp rise in commodity prices, with crude oil, iron ore and non-ferrous metals all increasing. SponsoredThe sharp rise in prices of products leaving Chinese factories will spark fears that this will eventually lead to a sharp rise in prices for consumers.

Source: The Times June 09, 2021 07:52 UTC