China's consumer inflation jumped further in April
China's consumer inflation, measured by the consumer price index (CPI), jumped further in April to 2.1% y/y, the highest level since November 2021. All the components of the CPI basket recorded elevated prices in April. Among which, transportation and communications posted the highest price increase of 6.5% y/y, largely due to the rising oil prices.
Reversing the y/y decline observed in March, the food, tobacco and alcohol category increased by 1.9% y/y in April. The prices for fresh vegetables, in particular, soared in April by 24% y/y. China's core CPI, excluding volatile food and energy prices, went up by 0.9% y/y in April, decelerating from the 1.1% y/y in the previous month.
Further data and analysis on China's economy are available on the CEIC China Economy in a Snapshot – Q2 2022 report.
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