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China’s inflation rate quickened last month, official data showed Saturday, as the government works to boost spending in the world’s second-largest economy.<\/p>\n The consumer price index (CPI) rose by 0.3 percent year-on-year in April, staying in positive territory for the third straight month, according to the National Bureau of Statistics (NBS).<\/p>\n The figure was higher than the 0.2 percent rise forecast by Bloomberg analysts and up from a 0.1 percent increase last month.<\/p>\n “In April, household consumption demand continued to rebound… and the year-on-year increase expanded,” the NBS said in a statement.<\/p>\n However, factory gate prices remained mired in a deflationary run that has persisted since the end of 2022.<\/p>\n The producer price index sank by 2.5 percent year-on-year, the NBS said.<\/p>\n Chinese policymakers have repeatedly tried to get consumers to open their wallets but the results have so far been mixed.<\/p>\n A debt crisis in the real estate sector and high unemployment are weighing on the economy and contributing to a slump in demand.<\/p>\n Beijing has set a target of around five percent GDP growth this year but has acknowledged that achieving it will “not be easy”.<\/p>\n mjw\/je\/mtp<\/p>\n<\/div>\n