China's inflation accelerated in April

China's inflation accelerated in April this year, with commodity prices rising for three consecutive months.
Inflation in China continued to accelerate in April, official data released on May 11 showed that consumer prices rose 0.3% year-on-year for three consecutive months.
According to the report, China's April inflation rate was higher than Bloomberg analysts' forecast of 0.2%. Also, inflation in April was much higher than the 0.1% in March.
China's National Bureau of Statistics released a press release on the matter, citing a sharp rise in household demand in April. However, Chinese ex-factory prices continued to decline, with the producer price index down 2.5% year-on-year. This trend has not continued since the end of 2022.
According to France Press Agency, China has increased its policy efforts to encourage people to consume more. But the result was the same.
Although China plans to increase its GDP by around 5% in 2024, it is considered difficult to achieve this goal given the current situation.