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China’s CPI up 1.8% in April

Updated: May 10,2018 1:45 PM     Xinhua

BEIJING — China’s consumer price index (CPI), a main gauge of inflation, posted a milder increase in April due to falling food prices, official data showed on May 10.

The CPI rose 1.8 percent year-on-year last month, compared with 2.1 percent for March, according to the National Bureau of Statistics (NBS).

On a month-on-month basis, the CPI edged down 0.2 percent.

Lower food prices were “the major reason” for the CPI decline from March, said NBS statistician Sheng Guoqing.

Food prices slipped 1.9 percent month-on-month and climbed only 0.7 percent year-on-year.

The price of pork, China’s staple meat, slumped 16.1 percent year-on-year, dragging down CPI growth by 0.43 percentage points. It fell 6.6 percent month-on-month.

Non-food prices rose 2.1 percent from the same period of last year and 0.2 percent from March.

China aims to keep annual CPI growth at around 3 percent this year, the same as the target for 2017.

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