May 11: Chinese inflation picks up pace

Consumer prices in China rose 2.8 per cent in April from the same month a year earlier, the fastest pace in 18 months but below Beijing’s full-year target of 3 per cent. Adding to fears of potential overheating, Chinese property prices jumped 12.8 per cent in April from a year earlier, the biggest increase since records began in 2005, although sales volumes have already fallen significantly in many major cities in reaction to a string of government measures to cool the market. Jamil Anderlini, Beijing correspondent, reports.