China Inflation March 2016


China: Inflation stabilizes in March

April 11, 2016

In March, consumer prices were down 0.4% over the previous month, which contrasted the 1.6% increase tallied in February. The reading, which marked a 12-month low, mainly reflected much lower prices for food, tobacco and liquor, transportation and communication, as well as for education, culture and recreation.

Inflation stabilized at February’s 2.3% in March, which undershot the 2.4% that market analysts had expected. The trend continued to point upward in March, with annual average inflation inching up from last month’s 1.6% to 1.7%.

Meanwhile, the producer price index fell 4.3% in March over the same month last year, which represented a 15-month high. The print was above both February’s 4.9% decline and the 4.6% drop that market analysts had anticipated. The annual average variation of the producer price index stabilized at February’s minus 5.3% in March.

FocusEconomics Consensus Forecast participants expect that inflation will average 1.6% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees inflation edging up to 1.8%. Meanwhile, the panel expects producer prices to decline 3.7% in 2016, which is unchanged from last month’s projection. In 2017, panelists see producer prices falling 1.9%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation March 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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