In this article
China’s factory-gate prices rose for the first time in more than three years while consumer inflation moderated in March, amid a surge in oil prices as the Iran war upended global energy markets.
The consumer price index climbed 1% in March from a year earlier, missing economists’ forecast for a 1.2% growth in a Reuters poll and slowing from a 1.3% rise in February, according to data released by the National Bureau of Statistics on Friday.
Producer prices climbed 0.5% from a year earlier, the first growth since September 2022, ending their longest deflationary streak in decades.
The war between the U.S. and Iran, now in its sixth week, has pushed oil prices sharply after Tehran effectively closed the Strait of Hormuz to most commercial tankers and major Middle East producers curbed oil production.
