China inflation grows to 2.4pc

City A.M. Reporter
INFLATION in China was higher than expected in April, while factory prices fell for a 14th consecutive month.

Consumer inflation quickened to 2.4 per cent last month from March’s 2.1 per cent due to higher food costs, data from China’s National Bureau of Statistics said.

Yet producer prices dropped 2.6 per cent in April, the 14th consecutive month of year-on-year declines and sharper than a drop of 1.9 per cent in March.