April saw China’s consumer price index (CPI) grow by 2.3 percent when markets expected a slightly higher 2.4 percent increase from last year. Monthly CPI was also on the red, declining by 0.2 percent in line with analysts’ forecasts. March’s CPI decreased by 0.4 percent.
The producer price index (PPI) also contracted by 3.4 percent in April from the same period last year, marginally better than the expected 3.8 percent fall. PPI has been falling for the fourth straight year.
The bleak data from the Statistics Bureau comes on top of bearish exports and imports. After climbing by 11.5 percent in April 2015, exports dropped by an annualized rate of 1.8 percent this year, exceeding the forecasted 0.1 percent fall. Yearly import was also down by 10.9 percent from a supposed 5.0 percent decrease.
The material has been provided by InstaForex Company – www.instaforex.com