China consumer prices rise at faster rate in April
China's inflation rate quickened in April, official data showed Saturday, as the government works to boost spending in the world's second-largest economy.
The consumer price index (CPI) rose by 0.3% year-on-year in April, staying in positive territory for the third straight month, according to the National Bureau of Statistics (NBS).
The figure was higher than the 0.2% rise forecast by Bloomberg analysts and up from a 0.1% increase last month.
"In April, household consumption demand continued to rebound... and the year-on-year increase expanded," the NBS said in a statement.
However, factory gate prices remained mired in a deflationary run that has persisted since the end of 2022.
The producer price index sank by 2.5% year-on-year, the NBS said.
Chinese policymakers have repeatedly tried to get consumers to open their wallets but the results have so far been mixed.
A debt crisis in the real estate sector and high unemployment are weighing on the economy and contributing to a slump in demand.
Beijing has set a target of around five percent GDP growth this year but has acknowledged that achieving it will "not be easy".
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