China says consumer prices rise more than expected 1.2% year-on-year, producer prices up 6.4%, less than seen

by Dramelin 8:00 PM 0 comments

China`s consumer price index (CPI) rose quicker than expected in April, coming in at 1.
2 percent from a year earlier, the country`s National Bureau of Statistics said Wednesday.
The latest data was above Reuters forecast of 1.
1 percent but it remained well within the central bank`s comfort zone, giving it room to continue with a gradual pace of monetary policy tightening without hurting economic growth.
Meanwhile, the producer price index (PPI) slowed for a second straight month, coming in at 6.
4 percent versus expectations for a 6.
In March, CPI rose 0.
9 percent year-on-year, while PPI was at 7.
PPI cooled for the first time in seven months in March as iron ore and coal prices fell at the end of a construction boom.
This story is developing.
Please check back for further updates.
— Reuters contributed to this story.