China March producer inflation cools, consumer inflation below forecast
[BEIJING] China's producer price inflation cooled for the first time in seven months in March as iron ore and coal prices tumbled, pressured by fears that domestic demand is not strong enough to absorb surging supplies of steel.
The producer price index (PPI) rose 7.6 per cent from a year earlier, in line with economists' expectations for a moderation from the previous month's gain of 7.8 per cent.
China's consumer price index (CPI) rose 0.9 per cent from a year earlier, edging up from February's 0.8 per cent but slightly below analysts' forecasts, the National Bureau of Statistics said on Wednesday.
Analysts polled by Reuters had predicted March consumer price inflation would edge up to one per cent but remain well within the central bank's comfort zone, giving it room to continue with a gradual pace of monetary policy tightening without risking crimping economic growth.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April