Chinese inflation rises to 3.8%

China’s inflation rate rose to a seven- year high of 3.8% in April (Ireland 1.4%), prompting the government to widen restrictions on investment to rein in price increases.

The gain in the consumer price index compared with a 3% rate in March

Grain prices surged 34% as farmers shifted to more profitable crops and construction reduced the amount of arable land. A separate report showed retail sales rose 13% in April.