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China's inflation up 2.4% in March
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Inflation increased 2.4 percent in March from a year earlier but was within a forecasted range, the National Bureau of Statistics said this morning.
The Consumer Price Index picked up last month from the 2 percent rise in February.
Food costs, which cover about one-third of the index, rose 4.1 percent as fresh vegetables and fruits became more expensive. In contrast, pork prices fell 6.7 percent.
The Producer Price Index, the factory-gate measurement of inflation, dropped 2.3 percent year on year in March, dipping further from a 2 percent slide a month earlier.
China is unlikely to unveil aggressive stimulus measures to counter a short-term decline in economic growth and will focus on creating jobs instead, Premier Li Keqiang said at the annual Boao Forum in Hainan Province yesterday.
His remark dashed hopes of strong government support for the economy, which has shown signs of weakness since the beginning of this year while inflation remained relatively low.
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