Industrial and consumer inflation in China rose in April

National Bureau of Statistics of China has published two reports for April. According to the first report, the producer price index in the country grew by 0.9% compared with the same month a year earlier. Its growth rates were the highest since December 2018, helped by an increase in oil and gas prices. In March, industrial inflation was at 0.4%. Economists had expected it to be 0.6% in April. Basically, the rise in producer prices was due to an increase in iron ore production, prices for which rose by 10.6% against a rise of 5.8% in March. Compared to the previous month, producer prices increased in April by 0.3%. The second report showed that consumer prices in China increased by 2.5% in annual terms in April after rising 2.3% a month earlier. April's growth was the highest in six months, confirming the forecasts of experts. Relative to the previous month, consumer prices increased by 0.1% after falling 0.4% in March.

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