The producer price index rose by 0.5 per cent in March, the first increase since 2022, as soaring global commodity prices affected Chinese firms.

The producer price index rose by 0.5 per cent in March, the first increase since 2022, as soaring global commodity prices affected Chinese firms.

China faces possible inflationary spillovers, though its massive strategic stockpiling onshore and diversified sources of energy provided some cushion.

A surge in prices at the pump due to the Iran war has pushed the inflation rate to 3.3%.

The consumer price index was expected to show a 3.3% year-over-year gain in March, according to the Dow Jones consensus.

The consumer price index increased as expected in March in response to the war in Iran, the Bureau of Labor Statistics reported Friday.

The Iran war has pushed up gasoline, airline fares and other prices for consumers.