Price growth has been boosted by a surge in global commodity costs, as the Middle East conflict disrupted energy and raw material flows.

Price growth has been boosted by a surge in global commodity costs, as the Middle East conflict disrupted energy and raw material flows.

China's PPI surged 2.8% in April, its highest in 45 months, as Strait of Hormuz disruptions drive commodity prices higher and squeeze manufacturer margins.

China's producer inflation rose to a near three-year high of 3.9% in May, driven by higher energy costs and AI-related demand, while consumer inflation stayed at 1.2%. Economists…