China consumer prices up 2.3% in April

(Xinhua) Updated: 2016-05-10 10:14

People shop at a supermarket in Hangzhou, Zhejiang province, March 10, 2016. [Photo/IC]

BEIJING --?China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in April, flat from the previous two months, new data showed Tuesday.

The growth rate remained at its highest level since July 2014 for a third month, data from the National Bureau of Statistics (NBS) showed.

Food prices rose 7.4 percent year on year, which was the main reason behind the CPI increase last month. Vegetable prices surged 22.6 percent year on year, and meat prices surged 20.1 percent from a year earlier.

NBS statistician Yu Qiumei said although vegetable prices dropped 12.5 percent from March, they were still much higher than a year earlier. Meanwhile, pork prices surged due to short supply.

On a month-on-month basis, the CPI dropped 0.2 percent in April, narrowing from a drop of 0.4 percent in March, the NBS said.

China consumer prices up 2.3% in April

China's consumer prices grew 2.3 percent in March from one year earlier, the same as in February, official data showed Monday.

The consumer price index (CPI), a main gauge of inflation, shrank 0.4 percent in March from February, the National Bureau of Statistics said in a statement.

NBS statistician Yu Qiumei attributed the inflation growth mostly to high vegetable and pork prices.

Pork prices jumped sharply by 28.4 percent year on year, contributing 0.64 percentage points of CPI growth, while vegetable prices skyrocketed by 35.8 percent, accounting for 0.92 percentage points of CPI growth.

Food prices soared 7.6 percent year on year while non-food inflation edged up 1 percent in March.

Since January, CPI data have been calculated using a new comparison base that takes into account new products and services, reflecting a change in consumption patterns. The adjustment slightly reduced the weight of food, which previously accounted for nearly one-third of the CPI calculation.