Inflation in China falls to 2-year low

Consumer inflation in China fell to its lowest level in two years in April. According to data from China’s National Bureau of Statistics, consumer prices rose by just 0.1 percent in April compared to the same month last year. This was the lowest inflation since February 2021. Prices had increased by 0.7 percent annually in March. Producer prices fell by 0.5 percent in April compared to the previous month, while consumer prices fell by 0.1 percent. Economists had estimated that prices rose by 0.4 percent annually in April. The Chinese yuan fell by 0.04 percent to 6.9428 against the dollar.