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. The increase was driven by a sharp rise in prices in the mining and raw materials industries.
The increase was driven by very strong external demand, Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, told CNBC's "Squawk Box Asia."
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.