China sees deflation for third consecutive month in April

The CPI fell 0.7% in February and, in the following month, the fall was also 0.1%.

The indicator, released by the Asian country's National Statistics Office (GNE), is in line with analysts' forecasts, who expected the previous month's contraction to be repeated in April.

The producer price index (PPI), which measures industrial prices, deepened its fall from 2.5% in March to 2.7% in the fourth month of the year.

Read Also: Wall Street ends lower awaiting China-US meeting