China's April inflation rises

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IANS | 10 May, 2013
China's consumer price index (CPI), a main gauge of inflation, grew 2.4 percent year on year in April, up from 2.1 percent in March, the National Bureau of Statistics (NBS) said Thursday.

The rise is largely in line with the market forecast of around 2.3 percent, reported Xinhua.

The NBS attributed the gain mainly to an unusual increase in vegetable prices during that month as low temperatures and scarce rainfall disrupted supplies.

In April, food prices, which account for nearly one-third of weighting in China's CPI, increased 4 percent year on year, with the prices of vegetables rising 5.9 percent, NBS data showed.

On a monthly basis, consumer prices in April edged up 0.2 percent.

Thursday's data also showed China's producer price index (PPI), which measures wholesale inflation, fell 2.6 percent year on year in April, marking the 14th straight month of decline and the steepest drop in six months that pointed to continued weak market demand.

China aims to hold this year's consumer inflation at around 3.5 percent.