China’s inflation data showed rising price pressures in April, with both consumer and producer inflation coming in above expectations.

Producer prices (PPI) rose 2.8% year-over-year, significantly higher than the 1.7% forecast and accelerating from the previous 0.5% increase.

Consumer inflation (CPI) also accelerated, rising 1.2% year-over-year versus expectations of 0.9% and up from 1.0% previously.