Chinese Ministry Rules Out Sudden Fuel Price Hike

BEIJING, May 11 -- China's producer price index (PPI), a major measure of inflation at the wholesale level, fell 6.6 percent in April year on year, the National Bureau of Statistics (NBS) announced Monday. 
&nbsp;&nbsp;&nbsp; The decline compared with a 6.0-percent drop in March and 4.6-percent fall in the first quarter from the same period last year. 
&nbsp;&nbsp;&nbsp; Prices of production materials fell 8.1 percent in April year on year, the NBS said in a statement. 
&nbsp;&nbsp;&nbsp; The PPI for January-April fell 5.1 percent over the same period last year, it said. 
&nbsp;&nbsp;&nbsp; The NBS also announced the consumer price index for April was down 1.5 percent year on year and 0.2 percent month on month.&nbsp; 
&nbsp;&nbsp;&nbsp; (Source: Xinhua)