China inflation drops to 1.8% year on year in April

China's annual inflation fell sharply to 1.8 percent in April, the lowestin 18 months, official data showed Friday, raising concerns about the risk ofdeflation in the world's second-largest economy.It was the weakest reading since October 2012, when the statistic stood at 1.7percent, and a decline from 2.4 percent in March, according to data from theNational Bureau of Statistics (NBS).The April figure was well below the 3.5 percent annual target set by Beijing and islikely to add to worries that deflation could be looming as Chinese growth slows.Moderate inflation can be a boon to consumption as it encourages consumers tobuy before prices go up, but economists say falling prices encourage consumers toput off spending and companies to delay investment, both of which act as brakes ongrowth.The country's consumer price index -- a main gauge of inflation -- increased by 2.2percent in the first four months of the year from the same period in 2013, the NBSsaid in a statement.Last month's price increase was mainly driven by food costs, particularly an 18.6-percent jump in fruit prices, according to the statement.