China consumer prices rise at faster rate in April

China’s inflation rate quickened in April, with the consumer price index rising 0.3% year-on-year, higher than expected and marking the third straight month of positive territory. However, factory gate prices remained in deflationary territory, with the producer price index sinking 2.5% year-on-year. The data reflects the government’s efforts to boost spending and consumption in the world’s second-largest economy, which is grappling with challenges such as a real estate debt crisis and high unemployment weighing on demand.  Photo: Reuters