China’s March Consumer Price Index unchanged

(From Xihua/China Daily)

China’s consumer prices grew 2.3 percent in March from one year earlier, the same as in February, official data showed Monday.

Chinese pork butcher

Chinese pork butcher

The consumer price index (CPI), a main gauge of inflation, shrank 0.4 percent in March from February, the National Bureau of Statistics said in a statement.

NBS statistician Yu Qiumei attributed the inflation growth mostly to high vegetable and pork prices.

Pork prices jumped sharply by 28.4 percent year on year, contributing 0.64 percentage points of CPI growth, while vegetable prices skyrocketed by 35.8 percent, accounting for 0.92 percentage points of CPI growth.

Food prices soared 7.6 percent year on year while non-food inflation edged up 1 percent in March.

Since January, CPI data have been calculated using a new comparison base that takes into account new products and services, reflecting a change in consumption patterns. The adjustment slightly reduced the weight of food, which previously accounted for nearly one-third of the CPI calculation. Read more



Categories: Asia Unhedged, China

Tags: , , ,