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MNI (London)
     BEIJING (MNI) - China's CPI rose to 2.5% y/y in April, edging up from
March's 2.3% to hit a six-month high. An MNI survey of economists had projected
the headline number to come in at 2.6%. 
     Here are other points of note from the data released by the National Bureau
of Statistics on Thursday:
     --The y/y CPI gain was partly due to higher food prices which rose 6.1%
y/y. The price of pork continued to rise, accelerating to 14.4% y/y, compared
with March's 5.1% gain.
     --CPI rose 0.1% m/m in April, reversing the 0.4% m/m decline in March. Food
prices fell 0.1% m/m compared with a 0.9% decline in March, as rising pork, eggs
and fruit prices were offset by declining vegetable prices. Prices of non-food
items rose 0.1% m/m.
     - The producer price index (PPI) rose 0.9% y/y, up from March's 0.4%,
beating the 0.6% forecast in an MNI survey and hitting a four-month high. It
rose 0.3% monthly, compared with 0.1% m/m gain in March.
     - The ex-factory prices of oil and gas exploration as well as oil, coal and
other fuel processing saw less gains at 3.6% and 1.3% on a monthly basis,
contracting 2.0 and 1.0 percentage points. Car manufacturing again reported no
price changes, as in March.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |