China's annual inflation dips to 2-year low in April

ANKARA

China’s annual consumer inflation eased to a two-year low in April owing to a further slowdown in both food and non-food costs, according to data released on Thursday.

The consumer price index (CPI) increased 0.1% year-on-year in April, the slowest rate since early 2021, data from the National Bureau of Statistics showed.

The figure was better than market forecasts of a 0.4% hike, following a 0.7% annual rise in March.

Food inflation slowed to a 13-month low of 0.4% in April, from 2.4% in March, while non-food inflation came in at 0.1%.

Core inflation, excluding food and energy, was constant at 0.7% on an annual basis in April.

On a monthly basis, the CPI decreased 0.1% in April, while market estimates were that it would remain unchanged.

China’s producer price index dropped 3.6% in April, the sharpest decline in nearly three years.