China Inflation April 2018


China: Inflation falls to four-month low in April

April 9, 2018

Consumer prices dropped 0.2% from the prior month in April, following March’s 1.1% month-on-month decline. The decrease was entirely due to lower prices for food, tobacco and liquors, particularly for fresh vegetables and pork.

Inflation eased from 2.1% in March to 1.8% in April, undershooting market expectations of 1.9%. Annual average inflation, meanwhile, inched up from March’s 1.7% to 1.8% in April.

Producer price inflation rose to 3.4% in April from 3.1% in March. The print slightly missed market analysts’ expectations of 3.5% and represented the first acceleration in producer price inflation in seven months. The monthly gain mostly reflected higher commodity prices.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.3% in 2018, which is unchanged from last month’s estimate. In 2019, the panel also sees consumer inflation at 2.3%. Meanwhile, the panel expects producer inflation of 3.2% in 2018, which is up 0.1 percentage points from last month’s projection. In 2019, panelists see producer inflation at 2.1%.


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China Inflation Chart

China Inflation April 2018

Note: Year-on-year and annual average variation of consumer price index in %.
Source: National Bureau of Statistics of China (NBS).

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