China Inflation April 2016


China: Inflation remains stable in April

May 10, 2016

In April, consumer prices were down 0.2% over the previous month, which followed the 0.4% decrease tallied in March. The reading mainly reflected much lower prices for food, tobacco and alcohol, particularly for fresh vegetables.

Inflation came in at 2.3% in April for the third consecutive month and was in line with what market analysts had expected. The trend also stabilized in April, with annual average growth in consumer prices remaining at last month’s 1.7%.

Meanwhile, the producer price index fell 3.4% in April over the same month last year, which represented a 16-month high. The print was above both March’s 4.3% decline and the 3.7% drop that market analysts had anticipated. The annual average variation of the producer price index inched up from March’s minus 5.3% to minus 5.2%.

FocusEconomics Consensus Forecast participants expect that inflation will average 1.7% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel sees inflation edging up to 1.9%. Meanwhile, the panel expects producer prices to decline 4.2% in 2016, which is down 0.1 percentage points from last month’s projection. In 2017, panelists see producer prices falling 2.4%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation April 2016

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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