WSJ: China’s Surging Manufacturing Prices Put Pressure on Beijing to Do Something About Them
Wed June, 2021, Age: 1 week
Beijing’s National Bureau of Statistics said that China’s producer-price index increased by 9.0 percent in May compared to a year ago, raising concerns worldwide over surging commodity costs. Beijing is under pressure to rein in inflation. Crude oil, metals and iron-ore prices primarily contributed to the inflation. As economies around the world recover from the COVID-19 pandemic, the demand for raw materials and factory goods have soared.