China Inflation Rate Up to 2.4% in April


China's annual consumer inflation quickened to 2.4 percent in April from March's 2.1 percent driven by rise in vegetable prices due to unusually cold temperatures and low rainfall across the country.

Food prices, which account for nearly one-third of weighting in China's CPI, increased 4 percent, with the prices of vegetables rising 5.9 percent. Non-food prices increased by 1.6 percent.

The prices grew by 2.4 percent in cities and in rural areas.  The prices of consumer goods went up by 2.2 percent and the prices of services grew by 2.9 percent.

China has set its inflation target for 2013 at 3.5 percent, higher than the actual inflation rate for 2012 of 2.6 percent.

Month on month, the consumer price index increased by 0.2 percent in April, reversing a decrease of 0.9 percent in March.

The producer price index (PPI), which measures wholesale inflation, fell 2.6 percent yoy in April,  the 14th straight month of decline and the steepest drop in six months.

 

 

 

 

 

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National Bureau of Statistics | Nuno Fontes | nuno@tradingeconomics.com
5/9/2013 10:04:54 AM