In April, inflation in China was above expectations due to harsh closure measures against the epidemic.
The shutdown measures implemented in China in April created supply disruptions. An increase in producer and consumer prices was observed above the expectations.
According to the data, producer prices in China increased by 8 percent in April compared to the same period of the previous year. Economists had expected annual producer inflation to be 7.8 percent.
Similarly, an increase in consumer prices that exceeded expectations was observed. Accordingly, the consumer price index in the country increased by 2.1 percent annually in April. The expectation was for an increase of 1.8 percent. Consumer inflation was 1.5 percent in March.
Core inflation, excluding food and energy, was 0.9 percent. Core inflation was 1.1 percent in March.
