China's inflation eases to 3.3% in April

Xinhua
China's consumer price index, a main gauge of inflation, rose 3.3 percent year on year in April, the National Bureau of Statistics said on Tuesday.
Xinhua

China's consumer inflation eased in April on falling food prices as the country fast-tracks restoration of economic activities amid consolidated epidemic containment efforts, official data showed Tuesday.

China's consumer price index, the main gauge of inflation, grew 3.3 percent year on year last month, moderating from the 4.3-percent gain in March, according to data from the National Bureau of Statistics.

On a monthly basis, consumer prices went down 0.9 percent. Food prices, which account for nearly one-third of weighting in China's CPI, dropped 3 percent last month.

In breakdown, vegetable prices fell 8 percent from March over rising supplies as the weather warms, and pork prices continued to retreat amid recovering hog production. Prices of the staple meat in China dropped 7.6 percent in April from a month earlier.

Compared with the same period last year, food prices remained the main driver of consumer inflation in April, while its growth rate tapered from March to 14.8 percent.

In the first four months of this year, CPI went up 4.5 percent year on year on average.

Tuesday's data also showed China's producer price index, which measures inflation at the factory gates, fell 3.1 percent year on year last month.

Special Reports
Top