CPI edges up 0.1% while PPI comes down 3.6% in April: China's statistics bureau

2023-05-11 14:35:00Global Times Editor : Li Yan ECNS App Download

Consumer price index (CPI), a main gauge for inflation, edged up slightly in April in China by 0.1 percent year-on-year, and down 0.1 percent from March, data from the National Bureau of Statistics (NBS) showed on Thursday.

Experts noted that the figure is an indication of China's stable economic recovery, effective measures taken to control consumer prices amid the global inflation risks.

Food prices rose by 0.4 percent year-on-year, dropped by 2.0 percentage points from March, contributing to the CPI growth rate by 0.07 percentage point, said NBS officials.

The producer price index (PPI), a gauge of prices at factory doors, in April declined by 3.6 percent year-on-year, and fell 0.5 percent month-on-month, affected by fluctuation of global bulk commodity prices in addition to weak overseas demand.

"Both indexes remain in the moderate territory of price rises based on historical experience," Dong Dengxin, director of the Finance and Securities Institute of the Wuhan University of Science and Technology, told the Global Times on Thursday.

In month-on-month term, CPI edged down by 0.1 percent, with food prices dropping by 1.0 percent, down by 0.4 percentage point from March, pulling down CPI by 0.19 percent points. 

With increasingly more fresh vegetables and fruits flooding the market due to warm weather, vegetable prices dipped by 6.1 percent in April while fruit prices were down 0.7 percent. The price of pork slid 3.8 percent amid consumption off-season, while the prices of grain and edible oil have remained stable.

Regarding service prices, transportation, air flights, hotels and tourism products saw month-on-month increase ranging from 4.6 percent to 8.1 percent in April partially due to the May Day holiday travel peak.


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