China's April consumer price (CPI) and industrial producer price (PPI) both exceeded market expectations. In April, the year-on-year increase in the CPI expanded to 2.1%, returning to the "2 era" after a lapse of 5 months .
According to data released by the National Bureau of Statistics of the Communist Party of China on May 11, in April, the national consumer price (CPI) in mainland China rose by 2.1% year-on-year and 0.4% month-on-month; the national industrial producer price (PPI) increased by 8.0% year-on-year and month-on-month. 0.6%. It beat market expectations of 7.8%.
Data show that food prices in April changed from a year-on-year decrease of 1.5% in the previous month to an increase of 1.9%, affecting the CPI increase of about 0.35 percentage points.
Among food, the price of fresh vegetables rose by 24.0%, affecting the CPI rise by about 0.48 percentage points; the price of fresh fruit rose by 14.1%, affecting the CPI rise by about 0.27 percentage points; the price of eggs rose by 12.1%, affecting the CPI rise by about 0.07 percentage points; the grain price rose 2.7%, affecting the CPI rise by about 0.05 percentage point; aquatic product prices rose by 2.4%, affecting the CPI rise by about 0.05 percentage point.
Zhou Maohua, a macro researcher at the Financial Market Department of China Everbright Bank, told the Shanghai Securities News that consumer prices rose slightly more than expected in April , mainly due to short-term fluctuations in energy and food prices. The core CPI increased by 0.9% year-on-year, indicating that domestic demand is still weak, and it is expected that there is still some room for CPI to rise year-on-year.
In April, non-food prices rose by 2.2% year-on-year, the same increase as the previous month, affecting the CPI rise by about 1.78 percentage points. Among non-food items, the prices of gasoline, diesel and liquefied petroleum gas rose by 29.0%, 31.7% and 26.9% year-on-year respectively.
Wen Bin, chief researcher of China Minsheng Bank, told Sina Finance that in April CPI, food prices turned from falling to rising, and current food and energy prices are still the main factors affecting the trend of CPI. In the PPI, the rise in international commodity prices still forms imported inflationary pressures. In the next stage, it is necessary to further implement measures to ensure supply and stabilize prices, ensure grain production, smooth logistics and transportation, and stabilize domestic price levels.
On average in the first four months of this year, the national consumer price rose by 1.4% over the same period of the previous year.