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China’s Consumer Inflation Hits Six-Month High

By Liu Jiefei / May 09, 2019 10:34 AM / Economy

Things aren't looking good for budget-conscious Chinese consumers.

Consumer inflation in China hit a six-month high in April, mainly driven by rising food prices, official data showed Thursday.

China’s consumer price index, which measures the prices of a basket of consumer goods and services, rose 2.5% year-on-year in April, a high not seen since an identical growth rate last October, according to the National Bureau of Statistics (NBS). The reading was up from a 2.3% rise the previous month, which was already a five-month high.

The producer price index, which tracks the prices of goods circulated among manufacturers and mining companies, inched up 0.9% year-on-year, the highest in four months, NBS data showed. That compared with a 0.4% increase in March.

Check throughout the day for further analysis on the newly released data.

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