According to China International Capital Corporation (CICC), China’s April PPI rose 1.7% month-on-month and 2.8% year-on-year, expanding from 0.5% in March, while CPI increased 0.3% and 1.2% respectively, up from 1.0% previously. The PPI surge was driven primarily by energy and chemical sector price gains, while CPI gains were supported by higher energy prices and holiday travel demand. Looking ahead, CICC expects PPI and CPI to continue rising over the next two months as international oil prices remain elevated amid ongoing U.S.-Iran negotiations, though the price transmission typically lags.
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