Chinese inflation nudged higher in April on the back of soaring vegetable prices but the data also pointed to industrial overcapacity and a fragile economic recovery.
China’s consumer price index rose 2.4 per cent year-on-year in April, rebounding from a temporary dip to 2.1 per cent in March. The rise was fuelled by a jump in the cost of food, especially vegetables, after an unusually cold start to the spring, the national statistics bureau said.
The Chinese central bank has said it must be on guard against inflation and investors are concerned that a surge in credit growth in the first quarter will stoke price pressures later this year.
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