China Inflation April 2017


China: Inflation increases in April

May 10, 2017

In April, consumer prices rose 0.1% from the previous month, contrasting March’s 0.3% decrease. The reading mainly reflected a sharp increase in prices for health care and, to a lesser extent, for education, culture and recreation and residence.

Inflation rose from March’s 0.9% to 1.2% in April, coming in a notch above the 1.1% that market analysts had expected. Annual average inflation fell from March’s 1.8% to 1.7% in April, marking a 12-month low.

Meanwhile, producer inflation declined from March’s 7.6% to 6.4% in April. The print was below the 6.7% that the markets had expected. The annual average variation of the producer price index rose from March’s 1.8% to 2.6% in April, which represented the highest reading since May 2012.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.2% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees consumer inflation stable at 2.3%. Meanwhile, the panel expects producer inflation to be 5.7% in 2017, which is unchanged from last month’s projection. In 2018, panelists see producer inflation at 1.9%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation April 2017

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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