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China’s consumer inflation slightly on the rise in March

Wednesday, 12 April 2017

BEIJING – This was up from February’s 0.8%, which was the lowest since January 2015, but was below forecasts of up to 1%. Producer prices rose slower than in February, with the Producer Price Index (PPI) up 7.6% compared to the year before, down from February’s 7.8%.

Producer inflation was up to the fastest pace in almost 10 years in February, which was largely attributed to Beijing’s pro-active fiscal policies designed to tackle the slowest GDP growth rates in decades. The acceleration follows last year’s fall of 1.4%.

Continued low consumer inflation was attributed to a significant fall in food prices, with prices for vegetables, eggs, pork, poultry and fruits falling 7.9, 4, 3.5, 2.1 and 1.2% in March, according to the statistics bureau. Food prices fell 4.4% on average, while consumer goods depreciated 0.1% and services prices grew 1.4%. Last year’s yearly inflation came to 2%, below the official 3% target. This year’s target has been left unchanged.

Source by: Internet

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