China's CPI up 1.8%, PPI 3.4% in April

Updated 2018-05-10 13:39:03

A woman chooses canned food at a supermarket in Qingdao, Shandong province, Sep 9, 2016. (Photo provided for China Daily)

China's consumer price index (CPI), the main gauge of inflation, rose 1.8 percent in April year-on-year, data from the National Bureau of Statistics showed on Thursday.

The growth of consumer inflation in April was slower than expected,down by 0.3 percentage point from the previous month.

The slower growth of inflation was mainly led by the steady decline of food prices, according to the NBS.

Lian Ping,chief economist at Bank of Communications, said that the economy is unlikely to experience high inflation this year given that there has not been substantial rebound in demand, and the growth of credit supply has slowed.

China's producer price index (PPI), which measures costs for goods at the factory gate, rose 3.4 percent year-on-year in April, the National Bureau of Statistics said Thursday.

It was up from a growth of 3.1 percent recorded in March, driven by growth in factory prices in mining industry and raw material sector.

In the first four months, PPI rose by 3.6 percent year-on-year, easing from 3.7-percent growth in the first quarter.

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