China's producer price index rises in Aug. at fastest pace in 13 yrs

China's producer price index in August rose at its fastest pace in 13 years, soaring 9.5 percent from a year earlier, against the backdrop of a spike in global raw material prices, the government said Thursday.The index, a measure of the prices of goods traded between companies, marked the sharpest gain since August 2008, as energy, metal and chemical prices increased. It climbed 9.0 percent in July from the same month last year.China's consumer price index, meanwhile, was up 0.8 percent in August from a year earlier, but the pace of growth shrank for the third straight month, indicating a …READ FULL ARTICLE