China’s consumer price index rose 0.1% in April year-on-year, the slowest since early 2021, official statistics revealed. On a monthly basis, inflation fell 0.1%.
Economists expected consumer prices to rise 0.4% from last year and remain unchanged from the previous month.
China’s inflation fell to 0.7% in March after hitting a recent high of 2.8% in September.
Compared to last year, service prices rose 1% in April, the fastest increase from 0.8% in March. The remarkable strength of travel came as domestic tourism recovered, especially in transport and leisure activities during the Golden Week holiday.
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