Advertisement
Singapore markets close in 4 hours 35 minutes
  • Straits Times Index

    3,316.61
    +8.71 (+0.26%)
     
  • Nikkei

    39,126.66
    +509.56 (+1.32%)
     
  • Hang Seng

    18,930.02
    -265.58 (-1.38%)
     
  • FTSE 100

    8,370.33
    -46.12 (-0.55%)
     
  • Bitcoin USD

    69,395.48
    -444.10 (-0.64%)
     
  • CMC Crypto 200

    1,512.67
    -13.74 (-0.90%)
     
  • S&P 500

    5,307.01
    -14.40 (-0.27%)
     
  • Dow

    39,671.04
    -201.95 (-0.51%)
     
  • Nasdaq

    16,801.54
    -31.08 (-0.18%)
     
  • Gold

    2,375.30
    -17.60 (-0.74%)
     
  • Crude Oil

    77.08
    -0.49 (-0.63%)
     
  • 10-Yr Bond

    4.4340
    +0.0200 (+0.45%)
     
  • FTSE Bursa Malaysia

    1,627.88
    +5.79 (+0.36%)
     
  • Jakarta Composite Index

    7,222.38
    +36.34 (+0.51%)
     
  • PSE Index

    6,628.84
    +21.62 (+0.33%)
     

China consumer prices rise at faster rate in April

Chinese policymakers have repeatedly tried to get consumers to open their wallets but the results have so far been mixed (STR)
Chinese policymakers have repeatedly tried to get consumers to open their wallets but the results have so far been mixed (STR)

China's inflation rate quickened last month, official data showed Saturday, as the government works to boost spending in the world's second-largest economy.

The consumer price index (CPI) rose by 0.3 percent year-on-year in April, staying in positive territory for the third straight month, according to the National Bureau of Statistics (NBS).

The figure was higher than the 0.2 percent rise forecast by Bloomberg analysts and up from a 0.1 percent increase last month.

"In April, household consumption demand continued to rebound... and the year-on-year increase expanded," the NBS said in a statement.

ADVERTISEMENT

However, factory gate prices remained mired in a deflationary run that has persisted since the end of 2022.

The producer price index sank by 2.5 percent year-on-year, the NBS said.

Chinese policymakers have repeatedly tried to get consumers to open their wallets but the results have so far been mixed.

A debt crisis in the real estate sector and high unemployment are weighing on the economy and contributing to a slump in demand.

Beijing has set a target of around five percent GDP growth this year but has acknowledged that achieving it will "not be easy".

mjw/je/mtp