China's CPI eases in March; PPI falls 2.5% YoY

China’s consumer prices showed signs of improvement in March, declining by 0.1 per cent year on year (YoY), according to the National Bureau of Statistics (NBS).

This represents an improvement compared to the 0.7 per cent decline recorded in February. The NBS attributed the improvement to policies designed to boost consumption, which are beginning to take effect.

Core CPI, which excludes food and energy prices, rose 0.5 per cent YoY in March—a significant recovery from the 0.1 per cent drop in February, a state-controlled news agency said quoting NBS statistician Dong Lijuan.

Prices in urban and rural consumer prices fell by 0.1 per cent and 0.3 per cent, respectively. While non-food prices registered a modest YoY increase of 0.2 per cent. Consumer goods prices decreased by 0.4 per cent, and service prices rose by 0.3 per cent last month.

On average, from January to March, national consumer prices declined by 0.1 per cent compared to the same period in 2024.

The producer price index (PPI) declined by 2.5 per cent YoY in March. PPI also recorded a 0.4 per cent drop on monthly basis. The decline was driven by falling domestic oil prices, a seasonal downturn in energy demand, and lower prices in some raw material industries.

ALCHEMPro News Desk (HU)