May 31, 2018 (China Knowledge) - China's annual consumer inflation cooled to 1.8% in April, compared to 2.1% in March. Of which, the CPI went up by 1.8% in cities and 1.7% in rural areas. The mild increase is highly attributable to falling food price. Food prices fell 1.9% MoM and climbed 0.7% YoY. Non-food prices rose 2.1% YoY and 0.2% in March. Healthcare led the CPI increase for non-food with a 5.2% increase. The other non-food categories are as follows: - 1.1% in clothing, 2.2% in residence, 1.1% in transportation and communication, 2.0% in education and 1.5% in household services.
China aims to keep annual CPI growth at around 3% this year, the same target as 2017. The economy is unlikely to experience high inflation this year given the slowing growth in credit supply.
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