China's April CPI up 1.2%, higher than market expectations

(Central News Agency, Taipei, 11th) China's National Bureau of Statistics announced today that the Consumer Price Index (CPI) increased by 1.2% year-on-year in April, and the Producer Price Index (PPI) increased by 2.8% year-on-year, both higher than market expectations.

China's National Bureau of Statistics today released the CPI and PPI economic data for April.

Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, explained that affected by changes in international crude oil prices and increased demand for holiday travel, China's CPI rose by 0.3% month-on-month in April and 1.2% year-on-year. The core CPI, excluding food and energy prices, increased by 1.2% year-on-year, maintaining a moderate recovery.

The CPI increase in April expanded by 0.2 percentage points compared to March. Among them, industrial consumer goods prices rose by 3.5% in April, an expansion of 1.3 percentage points compared to March. Affected by fluctuations in international commodity prices, gasoline prices increased by 19.3%, contributing about 0.56 percentage points to the year-on-year CPI increase.

Dong Lijuan also stated that affected by the rapid rise in international commodity prices, increased domestic demand in some industries, and continuous optimization of market competition order, China's PPI rose by 1.7% month-on-month in April and 2.8% year-on-year, with both increases expanding compared to the previous month. (Editors: Lu Jiarong / Chen Kaiyu) 1150511

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