China's Inflation Rate Accelerates


China's inflation rate accelerated in April, as consumer and producer prices beat estimates, while bank lending rose nearly 30% faster than expected.

Analysts said the data, including figures released the same day showing accelerating property prices, would renew policy makers' concerns about emerging bubbles.

China's consumer prices were 2.8% higher in April than a year earlier, the National Bureau of Statistics said Tuesday, while producer prices were up 6.8%.

The data showed price pressures heating up from March, when CPI rose 2.4% year-on-year, while the PPI had gained 5.9%.

Real-estate prices in China's 70 biggest cities rose 12.8% in April from a year earlier, accelerating from an 11.7% rise in March, figures released separately Tuesday by the National Bureau of Statistics showed.

Meanwhile, Chinese banks extended 774 billion yuan ($113.5 billion) worth of new local-currency loans in April, up from 510.7 billion yuan in March, according to central bank data released separately Tuesday.

The April lending data means Chinese banks have extended 45% of their lending quota for 2010 in just four months, adding to the risks that credit could overshoot the government's 7.5 trillion yuan target.

China


TradingEconomics.com, MarketWatch
5/11/2010 10:21:29 AM


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