China wholesale inflation hits over four-year high as consumer measure slows

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Producer prices in China grew at the fastest rate since June 2022, accelerating for the third month in a row. The PPI for October came in at 5.7%, compared to the 5.3% expected by economists polled by Reuters. Consumer inflation in China slowed to 0.7% in October, its first deceleration after two straight months of increases. The figure missed expectations of a 0.8% rise from economists polled by Reuters, and was lower than the 0.9% seen in September. The Chinese economy has shown some signs of expansion recently. It grew faster than expected in the third quarter, and September saw a sharp beat in retail sales.