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According to the National Bureau of Statistics (NBS),the CPI in April surged 8.5% year-on-year.The food prices this April increased 22.1% year-on-year while non-food prices rose 1.8% year-on-year.NBS says the CPI rise is due to last April’s relatively small base and the international grain prices hikes.“China will closely monitor the trends of the future global prices and focus onthe limitation on domestic prices rise and inflation.”“It is difficult for China to realize the government’s inflation target of 4.8%this year,” an economist expressed.
According to the National Bureau of Statistics (NBS), the CPI in April surged 8.5% year-on-year. The food prices this April increased 22.1% year-on-year while non-food prices rose 1.8% year-on-year .NBS says the CPI rise is due to last April’s relatively small base and the international grain prices hikes. “China will closely monitor the trends of the future global prices and focus on the limitation on domestic prices rise and inflation. ” “It is difficult for China to realize the government’s inflation target of 4.8% this year, ”an economist expressed.