China Inflation

China’s rare trade deficit in the first quarter underlined thriving growth but also the rising problem of inflation, which could portend more economic tightening in the coming months. The US$1.02 billion quarterly deficit – the first in seven years – resulted from a much stronger than expected set of trade numbers in March, when exports grew 35.8% compared with economists’ forecast of 23%, higher than the expected 20.6% growth.

Most of the growth in the import bill came from sharp inflation in commodity prices, a source of concern.

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