On Thursday, the China's National Bureau of Statistics published data on Producer Inflation (PPI) that rocketed to touch its highest level since 1996. It means for about 5 years ago. 

On an annual basis, the China's PPI rose from 9.5 percent to 10.7 percent. This significant increase was triggered by the price of mining commodities such as the coal.

It jumped by 74.9 percent from a year earlier. In September, an increase in the prices of energy commodities such as coal, crude oil, and natural gas led to increasingly expensive production costs.

It is especially at the producer level. These conditions will lead to an inevitable rise in products of various industries. That is as said by the NBS spokesman Dong Lijuan said in a note.

China’s CPI is Still Calm

The Coal prices have surged sharply in recent times Based.on the data so far. In fact, it has only been one of the China's mainstays in supplying the electricity needs. 

As a result, the Chinese government last week considered about the increasing electricity tariffs by 20%. The move has been further exacerbated by an energy crisis caused by floods.

That disaster happened in several parts of that countrt. In a separate release, the China's Bureau of Statistics also released the consumer inflation (CPI) data that increased by 0.7% year-over-year. 

This is below the economists' forecasts for a 0.9% increase, and lower than the August's CPI data. On a monthly basis, the CP in that country is stagnant.

The Demands and Orders are Stable

An analysts sees that the supply and demand at the consumer level as fundamentally stable. It means that there's not a lot of September CPI data, as said by Dong Lijuan lately. 

Although the China's CPI trend has so far tended to calm down, the Chinese government's decision to raise electricity tariffs is expected to add to inflationary pressures going forward. 

In fact, the increase in electricity tariffs is projected to contribute by 1.0 percent to PPI and 0.5 percent in CPI. Elsewhere, the Australian Bureau of Statistics published Employment Change data.

It was slumped by 138k jobs in September. This figure is worse than the forecast of a decrease of 137.5k, and continues the decline from the previous months before. 

The Cause of the Decline

The sharp decline in that Australian employment is largely due to the worsening employment in the part-time sector. That category lost 164.7k jobs in September this year. 

It was far worse than the 78.2k drop in employment in the previous period. Meanwhile, the full-time sector saw a slight increase of 26.7k, trying to recover from a drop of 68.1k jobs in August.

By region, the state of Victoria posted a 3.5% slump. That was followed by the NSW which declined by 0.6%, and Northern Australia with a 0.4% decline. How about the other? 

On the other hand, Queensland actually chalked up by 1.2 percent increase in employment, as did Tasmania and Western Australia. Those are increased by 0.4% and 0.3% respectively.

The Unemployment Rate is also Released 

The decline in Victorian and NSW jobs has had a huge impact on Australia's overall labor data as both regions are densely the populated concentrations in that country. 

In addition to that Employment Change, the ABS also published the data on Australia's unemployment rate. It can be seen that it rose by 0.1% to 4.6%. For your information, This figure is better than the market expectations that previously expected a rise to 4.8%. 

Even so, the unemployment rate in general is still 0.6 percent below pre-pandemic levels. At the time this news was made, the AUD/USD was traded at a range of 0.7373. This pair was weakening by 0.06 percent on a daily basis.