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Chinese prices fall further

Chinese producer and consumer prices fell in April, according to the National Bureau of Statistics of China.

The general level of the Consumer Price Index (CPI) fell 1.5% year-on-year, while the prices of manufactured goods, measured by the Producer Price Index (PPI), were down 6.6% year-on-year.

One of the largest downward pressures on the CPI was the price of meat, poultry and processed products, which fell 13.5%. Pork alone was down 28.6%.

The month-on-month decrease in CPI was 0.2%.

Crude oil was a key factor in the PPI decline, falling 53.6% year-on-year. Gasoline, kerosene and diesel prices also declined.


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