China: Inflation accelerated in April – UOB By pabspiovano China Inflation CPI Banks
Economist at UOB Group Ho Woei Chen, CFA, reviews the latest inflation figures in the Chinese economy.“China’s headline CPI rose at a faster than expected pace, by 2.1% y/y , to a 5-month high in Apr. Higher fresh food prices due to domestic COVID-19 disruption and increases in fuel costs more than offset the negative impact on services and consumption demand. Compared to the previous month, CPI was up 0.4% m/m after staying flat in Mar.” moderated to 8.
“Demand-side inflationary pressure has eased in Apr as seen in the moderation of China’s core CPI. The PBoC could reduce its 1-year medium-term lending facility rate this month by 5-10 bps as it increases growth support. We maintain our forecast for the benchmark 1Y loan prime rate to fall to 3.55% by the end of 2Q/3Q 2022.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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