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.
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