China's producer price inflation picked up more than expected in January to near six-year highs as prices of steel and other raw materials extended a torrid rally, adding to views that global manufacturing activity is building momentum.
China consumer inflation also rose more than expected to near three-year highs, data showed on Tuesday.
Much of the pick up in consumer prices was likely due to higher food and transportation prices heading into the long Lunar New Year holiday, the National Bureau of Statistics said.
