Chinese Consumer Prices Rise 2.4%, Just Above Expectations

Chinese consumer prices climbed 2.4% year-over-year (YoY) in April. This was just above expectations for a 2.3% rise.

Meanwhile, producer prices fell 2.6% YoY. Analysts had forecast a 2.3% fall.

Food prices were up 4%. Last month we saw pork prices fall 5.5%. The government has been purchasing pork for its national pork reserve to help bolster prices.

China has set an inflation target of 3.5% for 2013.