China Apr CPI Rises 1.2% YoY, Above 0.9% Forecast
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China's National Bureau of Statistics reported that the Consumer Price Index (CPI) rose 1.2% year-on-year in April, surpassing the forecast of 0.9%. Urban prices increased by 1.2%, while rural prices rose by 1%. Food prices fell by 1.6%, but non-food prices increased by 1.8%. Month-on-month, the CPI rose 0.3%. Notably, prices in the food, tobacco, and alcohol category fell 0.8% YoY, impacting the CPI negatively. Overall, six out of seven major categories saw YoY price increases, with transportation and communication rising by 11%.
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