BUSINESS China's March CPI up 0.4%

BUSINESS

China's March CPI up 0.4%

Xinhua

09:34, April 09, 2021

A customer selects products at a supermarket in Lianyungang City, east China's Jiangsu Province, March 10, 2021. (Photo: Xinhua)

BEIJING, April 9 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 0.4 percent year on year in March, data from the National Bureau of Statistics (NBS) showed Friday.

The figure reversed from the 0.2-percent drop in February, the NBS data showed.

Food prices went down 0.7 percent year on year, dragging down consumer inflation by 0.12 percentage points, according to the data.

The carryover effect sent the CPI inflation down by 0.6 percentage points, while new price increases pulled the growth up by 1 percentage point, the NBS data showed.

On a monthly basis, the CPI declined 0.5 percent, with food prices down 3.6 percent due to falling demand after the Spring Festival, noted Dong Lijuan, a senior statistician with the NBS.

Friday's data also showed China's producer prices, which measures costs for goods at the factory gate, rose 4.4 percent year on year in March.

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