China's April PPI +8.0% YoY, CPI +2.1% YoY

China's producer prices rose at the slowest pace in a year in April, despite the surge in global commodity prices, leaving room for more stimulus to shore up the flagging economy, which faces pressure from heavy COVID-19 curbs.

The producer price index (PPI) rose 8.0 percent year-on-year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, following an 8.3 percent rise in March and faster than the 7.7 percent growth tipped by a Reuters poll. The consumer price index (CPI) gained 2.1 percent from a year earlier, the fastest pace in five months, speeding up from 1.5 percent growth in March and beating expectations for a 1.8 percent rise.