Asia Economy

China November producer prices rise 3.3%, highest in five years

Tao Zhang | NurPhoto | Getty Images)

China's November producer prices rose 3.3 percent from a year ago, the highest since October 2011, thanks to soaring prices for commodities such as coal and steel.

The producer price index (PPI) had been expected to rise 2.2 percent on-year, compared with the previous month's rise of 1.2 percent.

The consumer inflation rate rose to 2.3 percent from a year earlier, the fastest pace since April this year,compared with a 2.1 percent posted the prior month, the statistics bureau said on Friday.

Analysts polled by Reuters had predicted the consumer price index (CPI) would rise 2.2 percent.

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