April’s con­sumer price in­dex up 1.5%

China Daily (Canada) - - FRONT PAGE -

China’s con­sumer price in­dex (CPI), a main gauge of in­fla­tion, grew 1.5 per­cent year -on-year in April, the Na­tional Bureau of Statis­tics (NBS) an­nounced.

The read­ing slightly re­bounded from 1.4 per­cent in March and 0.8 per­cent in Jan­uary, the low­est level in more than five years. On a monthly ba­sis, con­sumer prices in April edged down 0.2 per­cent, nar­row­ing from a 0.5 per­cent drop recorded in March.

“Due to a rel­a­tively

low base, food prices rose quickly in April, driv­ing up the yearon-year CPI growth,” said NBS se­nior statis­ti­cian Yu Qi­umei.

China’s GDP grew 7.4 per­cent in 2014, the weak­est an­nual ex­pan­sion in 24 years. A string of eco­nomic in­di­ca­tors for the new year, in­clud­ing man­u­fac­tur­ing, con­sump­tion and for­eign trade, sug­gested per­sis­tent weak­ness.

China set this year’s eco­nomic growth tar­get at around 7 per­cent and its in­fla­tion con­trol tar­get at about 3 per­cent.

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