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People's Bank of China may push policies to stimulate China's economy

China's National Bureau of Statistics announced that China's April consumer price index (CPI) continued to rise to 2.1% year-on-year, an increase of 0.6 percentage points from the previous value and a record high in nearly 11 months. The market originally expected 1.8%. Among them, food prices rose by 1.9% year-on-year, while non-food prices rose by 2.2%. During the same period, China's producer price index (PPI) rose 8% year-on-year, the lowest level in nearly a year, down 0.3 percentage points from the previous value, but still higher than market expectations of 7.8%, mainly driven by rising commodity prices. Although China's CPI continues to rise, it is still below the 3% inflation target of the People's Bank of China, and the PPI growth rate is also steadily declining. It is expected that the People's Bank of China still has room to make moves to stimulate the economy.
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