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市场每周展望——美中贸易谈判和全球经济数据。华尔街指数在本周早些时候开局不稳后，有望在本周结束时上涨。市场情绪的改善以及本周末即将举行的美中潜在贸易协议会议使市场参与者保持乐观。

Markets Weekly Outlook – US-China Trade Talks & Global Economic Data.Wall Street indexes are looking to finish the week with gains after a shaky start earlier in the week. Improved sentiment and the pending US-China meeting over a potential trade deal this weekend has kept market participants on the optimistic side.

2025年4月，中国生产者价格指数同比下跌2.7%，略低于市场预期的2.6%的跌幅，此前3月份曾下跌2.5%。这标志着生产者通货紧缩已连续31个月，也是自去年10月以来的最大跌幅。

China’s producer prices fell by 2.7% year-on-year in April 2025, slightly underperforming market expectations of a 2.6% decline and following a 2.5% drop in March. This marked the 31st consecutive month of producer deflation and the steepest fall since last October.

2025年4月，中国食品价格同比下跌0.2%，较上月1.4%的跌幅有所缓解，这是连续第三个月下跌。尽管如此，这是当前通货紧缩趋势中最温和的下降。新鲜蔬菜（-5.0%对-6.8%）、鸡蛋（-0.5%对-1.6%）、食用油（-1.8%对-2.1%）和牛奶（-1.2%对-1.7%）的价格下降速度较慢。与此同时，新鲜水果价格飙升（5.2%对0.9%），而猪肉价格增长放缓（5.0%对6.7%）。

China's food prices fell by 0.2% year-on-year in April 2025, easing from a 1.4% decline in the previous month and marking the third consecutive monthly drop. Still, it was the mildest decrease in the current deflationary streak. Prices decreased at a slower pace for fresh vegetables (-5.0% vs -6.8% in March), eggs (-0.5% vs -1.6%), cooking oils (-1.8% vs -2.1%), and milk (-1.2% vs -1.7%). Meanwhile, fresh fruit prices surged (5.2% vs 0.9%), while pork price growth eased (5.0% vs 6.7%).

2025年4月，中国消费者价格指数同比下降0.1%，连续第二个月保持不变，与市场预期相符。这标志着消费者连续第三个月出现通货紧缩，美国的高额关税加剧了国内需求疲软对价格的下行压力。受新鲜食品成本大幅反弹的推动，食品价格出现了三个月来最小的跌幅。与此同时，非食品价格在3月份上涨0.2%后持平，因为住房（0.1%对0.1%）、医疗保健（0.2%对0.1%）和教育（0.7%对0.8%）的上涨被运输成本的大幅下降（-3.9%对-2.6%）所抵消。按月计算，CPI小幅上涨0.1%，扭转了3月份0.4%的下降趋势，创下三个月来的首次上涨。

China's consumer prices dropped by 0.1% year-on-year in April 2025, keeping the same pace for the second straight month and matching market expectations. It marked the third consecutive month of consumer deflation, with steep US tariffs adding to the downward pressure on prices from weak domestic demand. Food prices posted the smallest decline in three months, driven by a sharp rebound in fresh food costs. Meanwhile, non-food prices were flat after a 0.2% rise in March, as increases in housing (0.1% vs 0.1%), healthcare (0.2% vs 0.1%), and education (0.7% vs 0.8%) were offset by a sharper drop in transport costs (-3.9% vs -2.6%). On a monthly basis, the CPI edged up 0.1%, reversing a 0.4% decline in March and recording the first increase in three months.