The producer price index (PPI) rose 8.0% year on year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, after rising 8.3% in March and faster than 7.7% growth announced by a Reuters poll.
The consumer price index (CPI) rose 2.1% from the previous year, the fastest pace in five months, after the 1.5% increase recorded in March and exceeding expectations for an increase of 1.8%.
China’s economy slowed sharply at the start of the second quarter as authorities in dozens of cities imposed full or partial lockdowns to stamp out COVID outbreaks, with Shanghai now in its sixth week of lockdown.