China April producer inflation surges to 45-month high

China's producer prices rose for a second straight month in April, hitting a 45-month high. Official data showed a 2.8% increase from a year earlier, well above the forecast. The producer price index reversed a 41-month declining streak in March when prices rose 0.5%. The consumer price index also rose 1.2% from a year earlier, compared to an expected 0.9% rise.