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Customers at a food market in Shanghai, China.
Photo:
Qilai Shen/Bloomberg News
China’s consumer inflation in March eased to its lowest level in more than a year, as both food and nonfood prices retreated, official data showed Tuesday.
The consumer-price index rose 0.7% on year in March, compared with a 1.0% increase in February, the National Bureau of Statistics said.
The result marked the lowest reading since September 2021 and undershot the 0.9% increase anticipated by economists polled by The Wall Street Journal.
Meanwhile the producer-price index fell deeper into deflation, falling 2.5% compared with a 1.4% decline in the same period a year earlier, it said.
The fall was in line with the 2.5% decline expected by the surveyed economists.
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