CPI rises 5.3% in April, inflation lingers

11:12, May 11, 2011      

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Chinese inflation rose by more than expected in April,as the National Statistics Bureau reported Wednesday that consumer prices climbed by 5.3 percent year-on-year.

Analysts believe that Beijing's battle against inflation will intensify, as the central bank is widely expected to take more tightening measures to lessen inflationary pressure.

Before the numbers were disclosed, analysts had been expecting an annual rate of 5.0 percent for April. Food prices rose 11.5 percent in the month, the biggest contributor to inflation.

The bureau also reported that PPI, or producer price index – price rises at the manufacturers' gate – rose 6.8 percent in April.

Premier Wen Jiabao said in March that reining in prices was the government's "top priority" in 2011. The State Council, the cabinet, has an annual inflation target of 4 percent.

In an attempt to slow inflation, China's central bank has raised the cost of borrowing by lifting interest rates, and asked banks to keep more money on reserve. It has also quickened the pace of its currency, the yuan's appreciation, lately.

By People's Daily Online
 
 
     
 
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(Editor:梁军)

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