China Inflation February 2019


China: Inflation inches up in March

April 11, 2019

Consumer prices fell 0.4% from the previous month in March, contrasting February’s 1.0% increase. The decline was primarily driven by lower prices for food, especially fresh vegetables.

Inflation rose from February’s over one-year low of 1.5% to 2.3%% in March. The print, which was a five-month high, matched the result that market analysts had expected. Annual average inflation stabilized at February’s 2.0% in March.

Producer price inflation (PPI), meanwhile, inched up from February’s 0.1% to 0.4% in March. The reading was in line with market analysts’ expectations and represented the first increase in PPI in 10 months.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.2% in 2019, which is unchanged from last month’s estimate. In 2020, the panel also sees consumer inflation at 2.2%. Meanwhile, the panel expects producer inflation to be 1.7% in 2019, which is down 0.4 percentage points from last month’s projection. In 2020, panelists also see producer inflation at 1.7%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation March 2019 0

Note: Annual and monthly variation of consumer price index and annual variation of producer price index in %.
Source: National Bureau of Statistics of China (NBS).

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