China’s consumer prices dipped slightly in March, reflecting seasonal trends and global influences, according to the National Bureau of Statistics (NBS). The consumer price index (CPI), a key measure of inflation, was down 0.1% compared to the same period last year.
This marks an improvement from February’s 0.7% decline, showing signs that policies aimed at boosting consumption are starting to have a positive effect. Dong Lijuan, an NBS statistician, highlighted that the core CPI—which excludes volatile food and energy prices—rose by 0.5% year-on-year in March, bouncing back from a 0.1% drop in February.
On the production side, the producer price index (PPI), which measures costs for goods at the factory gate, fell by 2.5% year-on-year in March and decreased by 0.4% compared to the previous month. The NBS attributed this decline to factors like lower domestic oil prices, reduced seasonal demand for energy, and falling prices of certain raw materials.
The adjustments in both consumer and producer prices indicate ongoing economic shifts influenced by both domestic policies and global market trends. As consumption-boosting initiatives take hold, analysts will be watching to see how these figures evolve in the coming months.
