China’s consumer prices rise for 2nd month, factory deflation persists

By Thomson Reuters Apr 10, 2024 | 8:43 PM

BEIJING (Reuters) – China’s consumer prices in March rose for a second straight month while producer price deflation persisted, pointing to still weak demand despite signs that the struggling economy is regaining some momentum.

The consumer price index (CPI) grew 0.1% in March from a year earlier, against a 0.7% rise in February, data from the National Bureau of Statistics (NBS) showed on Thursday. That compared with a 0.4% increase predicted by economists in a Reuters poll.

CPI fell 1.0% month-on-month, cooling from a 1% gain in February and worse than a 0.5% drop forecast by economists.

The producer price index (PPI) fell 2.8% in March from a year earlier, widening a 2.7% slide the previous month, and matching a forecast 2.8% fall.

(Reporting by Qiaoyi Li and Joe Cash; Editing by Jacqueline Wong)