China's inflation rises more than expected in April amid Middle East conflict impact

In April, China's consumer prices rose 1.2% year-on-year, surpassing forecasts of 0.9%, while producer prices jumped 2.8%, exceeding the expected 1.6%. This inflation surge is driven by higher global commodity costs due to the ongoing Middle East conflict disrupting energy markets. Despite a 20% drop in crude imports, China's export growth accelerated 14.1%, boosting its trade surplus to $84.8 billion. These economic shifts come ahead of a key summit between Chinese President Xi Jinping and U.S. President Donald Trump, where trade tensions and the Middle East conflict are expected to be major topics.