direct: Inflation in China slowed more than expected last month on an annual basis, as food costs slowed.
And data released by the National Statistics Authority of China revealed today, Tuesday, that the consumer price index increased by 3.3 percent during last April on an annual basis, compared to an increase of about 4.3 percent recorded in the previous March..
Analysts had expected that the inflation rate in the second largest economy around the world would record 3.7 percent in the past month.
The inflation performance in China was led by a hike in pork prices of about 96.9 percent last month, while non-food prices increased by 0.4 percent, according to the data.
The performance of the index is also due to a slowdown in the growth of food prices, registering an increase of 14.8 percent during the past month, compared to an increase of about 18 percent recorded in the previous month.
As for the core inflation rate, which excludes food and energy prices, it recorded an increase of about 1.1 percent during the past month on an annual basis compared to an increase of 1.2 percent during the third month of this year.
On a monthly basis, China’s CPI shrank by 0.9 percent in April, with food prices dropping by 3 percent.
In separate data, the producer price index in China fell by 3.1 percent in the fourth month of this year on an annual basis, compared to a decrease of about 1.5 in the previous March.
According to estimates, producer prices were expected to drop by 2.6 percent in April.
By 9.04 am GMT, the Chinese yuan rose against the dollar by about 0.3 percent to 7.0928 yuan.