Inflation in China moderated slightly in April but remained stubbornly high despite government efforts to restrain rapid price rises.
The benchmark consumer price index rose 5.3 per cent in April from a year earlier, less than the 5.4 per cent clip in March, but still above most forecasts. It was also well above Beijing’s full-year target of 4 per cent.
China’s statistics bureau said politically sensitive food prices rose 11.5 per cent from a year earlier in April, up from 11 per cent in the first quarter, despite Chinese media reports of steep falls in vegetable prices hurting Chinese farmers.
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