China PPI rises 0.7% m/m as energy prices climb

The breadth is the story here: six industries accounting for more than 80% of the monthly gain means the move is concentrated rather than broad, and energy is doing nearly all the work. That distinction matters for anyone tracking whether Chinese factory-gate deflation is genuinely easing or just reflecting a commodity swing. The month-on-month slowdown from the prior pace, even with energy this strong, suggests underlying pricing power outside energy remains soft. Whether the energy-led impulse persists once those base effects turn is the open question.