China Q1 GDP grows 9.7%, inflation accelerates

15 April 2011 04:10  [Source: ICIS news]

GUANGZHOU (ICIS)--China’s GDP grew by 9.7% in the first quarter, while inflation continued to accelerate, the National Bureau of Statistics (NBS) said on Friday.

The consumer price index (CPI), a measure of retail prices, grew by 5.4% year on year in March, hitting a 32-month high, according to data released by the NBS.

The producer price index, a gauge of wholesale prices, increased 7.3% in March, a 30-month high, according to the bureau.

The CPI and PPI increased by 5.0% and 7.1% respectively in the first quarter.

Based on a year-on-year comparison, the country’s industrial output increased by 14.4%, while fixed asset investments rose by 25.0% in the first quarter. Meanwhile, China’s total retail sales increased by 16.3% year on year during the quarter, NBS said.

By: Fanny Zhang
+65 6780 4359

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