Mainland food prices climb as inflation worsens
Consumer inflation on the mainland has risen at its quickest pace in five months. The Consumer Price Index climbed 2.1 percent in April year on year, up from a 1.5 percent gain the month before. The latest figures also showed that after four consecutive months of contraction, food prices overall rose for the first time on-year in April. The National Bureau of Statistics (NBS) cited factors such as the domestic Covid-19 epidemic and the continued rise in international commodity prices for the increase in consumer prices. Meanwhile, the Producer Price Index, which gauges the cost of goods at the factory gate, rose at its slowest pace in a year in April with an 8 percent increase. The slower rise in producer prices was driven by government measures to stabilise commodity prices and increase supply, according to the NBS. (Additional reporting by AFP & Reuters)