Dow Jones Newswires: China’s consumer inflation speeds up in April

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BEIJING-China’s consumer inflation rose at a faster clip in April, lifted by higher food prices, official data showed Wednesday.

China’s consumer price index rose 2.1% in April from a year earlier, picking up from March’s 1.5% increase, the National Bureau of Statistics said. Economists polled by The Wall Street Journal had expected growth of 2.0%.

In the first four months of the year, CPI increased 1.4%, well below China’s target of capping CPI under roughly 3% this year.

In April, food prices increased 1.9% from a year earlier, reversing from a 1.5% year-on-year fall in March. Non-food prices rose 2.2%, flat on March’s growth.

CPI increased 0.4% in April from March, the statistics bureau said.

Meanwhile, China’s producer price index, a gauge of factory-gate prices, rose 8.0% from the year-earlier period, down from an 8.3% increase in March but higher than 7.8% growth anticipated by economists in the WSJ poll.

On a monthly basis, PPI rose 0.6% in April from March.

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