China's April inflation flat at 2.3%

China's consumer price index (CPI), a main gauge of inflation, grew 2.3% year on year in April, flat from the previous two months, new data showed Tuesday.

    The growth rate remained at its highest level since July 2014 for a third month, data from the National Bureau of Statistics (NBS) showed. Food prices rose 7.4% year on year, which was the main reason behind the CPI increase last month. Vegetable prices surged 22.6% year on year, and meat prices surged 20.1% from a year earlier, according to China's (Xinhua) News Agency. 

    On a month-on-month basis, the CPI dropped 0.2% in April, narrowing from a drop of 0.4% in March