May 11, 2023 (MLN): China's consumer price index (CPI), a main gauge of inflation, edged up by 0.1% YoY in April 2023, the latest data issued by the National Bureau of Statistics of China (NBS) on Thursday showed.

The figure was lower than the 0.7% YoY increase in the previous month.

On a sequential basis, China’s CPI went down by 0.1% MoM, narrowing from the 0.3% MoM decline in the previous month.

NBS statistician Dong Lijuan attributed the slower YoY price increase to a high base in the corresponding period of 2022, when the inflation growth came in at 2.1% YoY.

In April, the market supply was generally sufficient and consumer demand gradually recovered, he added.

Meanwhile, the core CPI, deducting food and energy prices, was up by 0.7% YoY and by 0.1% MoM.

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Posted on: 2023-05-11T10:58:04+05:00