China’s CPI in March rose 2.3% yoy
National Bureau of Statistics of China announced Consumer Price Index (CPI) of March, a record of 2.3% increase year-on-year, an increase of 0.8 percentage points over the previous month. Urban areas rose by 2.3%, rural areas rose by 2.4%; food prices rose by 4.1%, non-food prices rose by 1.8%; consumer prices rose by 2.4%, and service prices rose by 2%. In the first quarter of this year, the CPI rose 1.8% from last year.
On a monthly basis, the CPI fell 0.4%, with urban areas falling 0.4% and rural areas falling 0.3%. Food prices fell 0.9%, non-food prices fell 0.2%, consumer prices fell 0.1%, and service prices fell 0.8%.
The producer price index (PPI) rose by 0.4% year-on-year, and rose by 0.1% month-on-month.
According to the National Bureau of Statistics, the CPI has changed from a 1% increase last month to a decrease of 0.4%. The price of food changed from 3.2% increase in the previous month to 0.9% decrease, affecting the CPI by about 0.19 percentage points; the non-food price changed from 0.4% increase in the previous month to 0.2% decrease, affecting the CPI by about 0.18 percentage points. On a yearly basis, the CPI rose by 2.3%, an increase of 0.8 percentage points from the previous month. Among them, food prices rose by 4.1%, affecting CPI by about 0.82 percentage points; non-food prices rose by 1.8%, affecting CPI by about 1.46 percentage points. The National Bureau of Statistics continued that in the 2.3% year-on-year increase in March, the impact of price changes last year was about 1.1 percentage points, and the new price increase was about 1.2 percentage points.