Official NBS data shows China's PPI rose 5 percent year on year in September, the sharpest gain since June 2022, with a 1.2 percent month-on-month increase. The acceleration was mainly driven by higher international crude oil and non-ferrous metal prices, tight coal supply for winter heating, and rising demand from AI-related industries. The September CPI also climbed 0.9 percent year on year, lifted by higher energy and industrial consumer goods prices.