China inflation slows to 3.4% in April

  • China’s inflation rate slowed to 3.4 percent in April, raising expectations that the central bank will ease its monetary policy to sustain growth.

    The rate of inflation for March stood at 3.6 percent and has been under the government’s target of 4 percent for three consecutive months.

    The news comes a day after China reported that growth in its imports and exports had waned, leading to fears of an economic slowdown.

    Rising inflation has been one of the biggest concerns for Chinese policy makers.

    Consumer prices hit a three-year in July last year at an annual rate of 6.5 percent.