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China’s consumer prices ticked up in April as the cost of crude oil rose globally due to the Iran war, official data showed, AFP reports.
Helped by the surging oil costs, factory gate prices also continued to show signs of recovery, rising for a second straight month after being stuck in negative territory since October 2022.
However, analysts warn deflation is still a threat for the world’s second-largest economy as prices in other sectors continue to fall and overcapacity remains a headache.
China’s consumer price index, a key measure of inflation, last month rose 1.2 per cent year-on-year, data from the National Bureau of Statistics showed.
