Investing.com-- Chinese consumer price index inflation grew for a third straight month in April, as continued policy support from Beijing appeared to be boosting consumer demand, although producer price index inflation continued to decline.grew 0.3% year-on-year, more than expectations of 0.1%, data from the National Bureau of Statistics showed over the weekend. The reading also improved from the 0.1% rise seen in March.
Factory gate inflation shrank for a 19th consecutive month, as overall Chinese business activity still remained under pressure. Weak overseas demand, sluggish local spending and a sustained property market slump had battered Chinese businesses over the past three years, with the trend showing little signs of easing.
Beijing has rolled out a string of supportive measures for Chinese businesses over the past year. But just how much more policy support it can provide remains in doubt, especially amid high levels of government debt in the country.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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