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在线翻译:
szdaily -> Business
Producer prices slow more than expected
    2017-May-11  08:53    Shenzhen Daily

CHINA’S producer price inflation cooled more than expected in April as iron ore and coal prices tumbled further, pressured by fears that domestic demand will not be strong enough to absorb surging supplies of steel.

The soft data, combined with slightly slower growth in manufacturing activity, reinforces analysts’ views that China’s economic expansion remains solid but is starting to moderate after a surprisingly strong start to the year.

First quarter economic growth came in at a faster-than-expected 6.9 percent, which could give the economy enough of a tailwind to hit China’s full-year target even if growth starts to fade in coming quarters as many analysts expect.

The producer price index (PPI) rose 6.4 percent from a year earlier, slower than economists’ expectations for a 6.9 percent rise and easing further from the previous month’s gain of 7.6 percent.

On a month-on-month basis, producer prices fell 0.4 percent in April, the first drop since June, led by declines in iron and steel smelting and processing.

In March, China’s PPI cooled for the first time in seven months as commodities prices tumbled, pressured by fears that Chinese steel production is outweighing demand and threatening a glut of the metal later this year.

Factory gate prices had only turned positive on a year-on-year basis last September, after falling for nearly five years, leaving many industrial firms saddled with idle capacity and less cash flow to service their debts.

The consumer price index (CPI) in April rose 1.2 percent from a year earlier, edging up from March’s 0.9 percent and slightly above analysts’ forecasts, the National Bureau of Statistics said yesterday.

Food prices, the biggest component of the CPI, fell 3.5 percent.

Core inflation inched up to 2.1 percent, with costs for health care rising 5.7 percent.

China is targeting consumer inflation of 3 percent this year, unchanged from 2016.

(SD-Agencies)

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