Chinese inflation data undershoots expectations in April

Chinese consumer price inflation rose less-than-expected in the year to April with an increase of 1.5% reported. The figure, above the 1.4% pace of March, missed forecasts for a rise of 1.6%.

From a year earlier non-food inflation held steady at 0.9%, the same level seen since February, while food inflation accelerated to a four-month high of 2.7%. Pork prices, up 8.3% on year compared to 2.0% in March, largely explained the increase.

Revealing upstream price pressures continue to be non-existent, producer prices fell 4.6% on year, unchanged from March, with the figure below expectations for a decline of 4.4%.

Six of eight categories recorded declines from a year earlier with extraction, production and raw material prices falling 19.6%, 5.9% and 8.3% respectively. Overall producer prices have now declined for 38 consecutive months.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In