RTTNews reports that according to the report from the National Bureau of Statistics, China's consumer price inflation rose moderately at a slower-than-expected pace in April, while producer prices grew at the fastest pace in more than three years driven by higher commodity prices.

Consumer price inflation rose to 0.9 percent in April from 0.4 percent in March. Nonetheless, the rate was slightly below economists' forecast of 1 percent.

Core inflation that excludes volatile energy and food prices picked up to 0.7 percent from 0.3 percent.

Food prices dropped 0.7 percent, while non-food prices advanced 1.3 percent. The consumer price growth rate was capped by pork prices which were very high last year.

Producer price inflation surged to 6.8 percent in April from 4.4 percent in March. This was the highest since October 2017 and well above economists' forecast of 6.5 percent.

Month-on-month, producer prices grew 0.9 percent.