China's CPI growth sees slowdown in April 2023: NBS

12 May '23

1 min read

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Insights

China's CPI experienced a slight YoY increase of 0.1 per cent in April 2023, down from 0.7 per cent in March, as per the NBS. Month-on-month, prices marginally dropped by 0.1 per cent.
The slower annual growth was attributed to a high base from 2022 when inflation was at 2.1 per cent.
Excluding food and energy, the country's core CPI rose 0.7 per cent YoY.

China’s consumer price index (CPI), an important indicator of inflation, rose by a modest 0.1 per cent year-on-year (YoY) in April 2023. The figure signifies a decrease from the 0.7 per cent increase observed in March 2023, as per the National Bureau of Statistics (NBS).

Prices saw a marginal decline of 0.1 per cent month-on-month (MoM), a narrower contraction compared to the 0.3 per cent decrease witnessed the previous month.

NBS statistician Dong Lijuan attributed the slower annual price growth to a high comparative base from 2022, when inflation stood at 2.1 per cent, according to local media reports. In April, there was generally an adequate supply in the market, and consumer demand started to rebound gradually.

When excluding food and energy prices, the core CPI saw a YoY increase of 0.7 per cent, with a slight monthly increment of 0.1 per cent.

ALCHEMPro News Desk (NB)

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