China inflation rises, but slowly
China's inflation rate edged up 0.1 per cent year-on-year in April, the slowest rate recorded since 2021, official figures showed Thursday, signalling a weak recovery after lifting pandemic curbs.
Producer prices fell for the seventh consecutive month due to sluggish domestic demand and lower commodity costs, data released by Beijing's National Bureau of Statistics (NBS) showed.
April's consumer price index (CPI), was the lowest level recorded since February 2021 and fell below the 0.3 per cent increase forecast by analysts polled by Bloomberg. In March, China's CPI was 0.7 per cent. Food prices -- a major component of the inflation basket -- increased by only 0.4 per cent in April, compared to the previous year.
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