Chinese inflation holds steady at 2.3%
China’s April producer price index (PPI) dropped by 3.4% on the year compared with a 4.3% yearly decline in March. The April PPI increased by 0.7% on the month after increasing by 0.5% in March from a month earlier, according to NBS data.
The index reading was slightly below economists’ estimates calling for an average gain of 2.4% in a survey conducted by The Wall Street Journal. Some analysts commented that policy makers might continue to ease monetary policy in the face of an ongoing slowdown in economic growth as inflation remains below the government’s target of 3%.
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