FAP, May 16 (FAP)-- since the beginning of this year, China's CPI growth rate has been declining month by month, and the PPI decline has been expanding. Data show that China's CPI rose 0.1 per cent in April from a year earlier, the lowest level since March 2021, while PPI fell 3.6 per cent year-on-year and has been in a negative range for seven consecutive months since October 2022 and has fallen to the lowest level since June 2020. Analysts believe that the periodic decline in price levels since the beginning of this year is mainly affected by the inconsistent pace of supply and demand recovery and the base effect. In the next few months, it is expected that China's inflation level will fluctuate in a low and narrow range, the year-on-year growth rate of CPI may "bottom" in the second quarter, and the CPI hub may rise moderately in the second half of the year. It is not appropriate to exaggerate the impact of the periodic decline of CPI, and there is no deflation in China's economy at present. A person close to the people's Bank of China told reporters that in the next stage, the people's Bank of China will continue to implement a sound monetary policy, keep the total amount moderate and steady, enhance the quality and efficiency of supporting the real economy, and strengthen coordination with fiscal policies. we will form a joint force to expand demand, promote sustained improvement in economic operation, and keep prices basically stable. (Shanghai Stock Exchange News)