Guangzhou (JLC), April 11, 2024 – China's consumer price index (CPI), a main gauge of inflation, rose 0.1% year on year in March, cooling down from a year-on-year rise of 0.7% in February, data from the National Bureau of Statistics (NBS) showed.
On a month-on-month comparison, the CPI fell 1.0% in March.
Dong Lijuan, an NBS statistician, attributed the slower CPI growth to fluctuations in food and travel prices. Food prices dropped 2.7% year on year and 3.2% month on month in March, and travel and air ticket prices also fell.
The core CPI, which excludes food and energy prices, went up 0.6% year on year in March, extending a mild increase, the NBS said.
Meanwhile, China's producer price index (PPI), which measures factory-gate goods prices, fell 2.8% year on year in March, the NBS data showed.
On a month-on-month comparison, the PPI dropped 0.1% in March, the NBS data indicated.
