China CPI 1.2% YoY, PPI 2.8% Surge

China's CPI rose 1.2% YoY in April, beating 0.9% forecast and up from 1% in March.
Producer price index surged 2.8% YoY, far above the 1.7% estimate and the previous 0.5% reading, fastest since July 2022.
The rise is driven by higher petrochemical and fuel costs linked to Middle East conflict, which has disrupted oil supplies to China.
Economists warn cost‑push inflation could squeeze margins and limit further stimulus as domestic demand remains weak.