China's factory-gate inflation in April quickened at its fastest pace in fo...
BEIJING - China’s factory-gate inflation in April quickened at its fastest pace in four months, buoyed by higher commodity prices and a sign demand may be starting to perk up as Beijing rolls out more stimulus.
China’s producer price index in April rose 0.9 percent from a year earlier, the quickest pace since December, driven largely by rapid rises in oil and gas prices, and advancing from a 0.4 percent increase in March, the National Bureau of Statistics said. Analysts polled by Reuters had expected factory gate inflation would nudge up to 0.6 percent in April.
However, some analysts remain concerned about the true state of the demand factors driving China’s economy. To arrest a sharper slowdown of the economy, Beijing has fast-tracked big-ticket infrastructure projects, which are pushing up prices of construction materials. China’s economy posted surprisingly strong data in March, stoking debate over how much more stimulus China needs to generate a sustainable recovery, however, initial April readings have been more subdued.The consumer price index in April rose 2.5 percent from a year earlier, a six-month high, fueled by higher pork prices as the spread of African swine fever prompts farmers to cull their herds.On a month-on-month basis, CPI rose 0.1 percent, compared with a 0.4 percent drop the preceding month.
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