Today’s Stock Exchanges, May 11th. Positive EU price lists, Chinese inflation slows down
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China, inflation at a 2-year low
China’s inflation hit its lowest level in more than two years in April. Producer prices, meanwhile, sank further into deflation, a sign of sluggish domestic demand and lower commodity costs.
The consumer price index (CPI), the leading gauge of inflation, rose 0.1% year on year in April, up from 0.7% the previous month, according to estimates released by the National Bureau of statistics.
Analysts polled by the Bloomberg agency had expected a larger increase (0.3%), against the backdrop of a recovery in activity in China after the lifting of anti-Covid health restrictions in late 2022.
Ultimately, inflation in April reached its lowest level since February 2021, with food prices rising by just 0.4% year-on-year.
However, last month’s data was impacted by last year’s high comparison base, said Dong Lijuan, an analyst at the SNB. Food prices were particularly high in April 2022, during the lockdown of several major cities such as Shanghai, due to the blockage of supply chains.
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