Despite China's Reopening, Inflation Remains Calm... March CPI Up 0.7%

China's Consumer Price Index (CPI) for March rose by 0.7% year-on-year, the National Bureau of Statistics announced on the 11th. This figure is below both the previous month's 1.0% and the forecasted value.

Earlier, the economic media outlet Caixin had predicted that while service sector prices would show an upward trend, falling food prices would limit the overall CPI increase.

A grocery store located in Shenzhen, Guangdong Province, China is selling food products. (Photo by Kim Hyun-jung)

The Producer Price Index (PPI) for March, released on the same day, fell by 2.5% year-on-year, in line with expectations. The PPI had declined by 1.4% in February. This marks the sixth consecutive month of negative PPI readings since October last year (-1.4%).