According to the latest data published by China’s National Bureau of Statistics (NBS) on Good Friday, the Consumer Price Index (YoY) arrived at +4.3% last month vs. +4.8% exp and +5.2% booked in February.
On a monthly basis, the CPI came in at -1.2% in March vs. -0.7% exp and +0.8% last.
Meanwhile, China’s Producer Price Index (YoY) (March) came in at -1.5% in vs. -1.1% exp and -0.4% last.
About China CPI
The Consumer Price Index is released by the National Bureau of Statistics of China. It is a measure of retail price variations within a representative basket of goods and services. The result is a comprehensive summary of the results extracted from the urban consumer price index and rural consumer price index. The purchasing power of the CNY is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A substantial consumer price index increase would indicate that inflation has become a destabilizing factor in the economy, potentially prompting The People’s Bank of China to tighten monetary policy and fiscal policy risk. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
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