Trends show continued upward momentum in China's economic performance

Deflation is not visible in the country now and will not appear in the next stage, as the slow-paced growth in consumer prices is mainly time-limited, a senior official said.

The consumer price index edged up by 0.1 per cent year on year in April. On a monthly basis, the prices were down slightly by 0.1 per cent, according to data from the National Bureau of Statistics (NBS).

NBS spokesperson Fu Linghui said the market demand has a limited leverage on driving up prices in short term.

China witnessed a steady expansion in industrial output and consumption last month, NBS data showed.

The value-added industrial output went up by 5.6 per cent year on year, 1.7 percentage points higher than that of March.

The retail sales of consumer goods, a major indicator of the country's consumption strength, surged 18.4 per cent year on year to nearly 3.5 trillion yuan ($503 billion).

Meanwhile, the transmission of international factors will continue, which will bring down domestic prices, Fu said.

While major economic indicators have pointed to sustained economic development, Fu cautioned of challenges including the complex international situation and insufficient domestic demand.

ALCHEMPro News Desk (DS)