China PPI renews record high

China's producer price index saw a record rise for the second straight month in October due largely to higher energy prices. Concerns are mounting that the rising PPI may have a negative impact on the slowing economy.

The National Bureau of Statistics said on Wednesday the index that measures price fluctuations of goods at the factory gate jumped 13.5 percent last month from a year earlier. That's the steepest increase since data began to be released 25 years ago.

Soaring prices of crude oil and coal are behind the rise.

China's main fuel for power generation is coal and the balance between supply and demand is under strain.

Meanwhile, the consumer price index rose 1.5 percent year-on-year in the same month.

Higher gasoline costs and rising prices of vegetables stemming from unseasonable weather are believed to be the reason.

There are concerns that if inflation continues, it could push down personal spending.