China’s consumer price index (CPI) resumed positive YoY growth in March, as the domestic economy continues to recover from the impacts of the COVID-19 pandemic.
The national CPI reading for March saw a YoY gain of 0.4%, as compared to a YoY decline of 0.2% in February according to data from the National Bureau of Statistics (NBS).
Food prices posted a YoY decline of 0.7% in March, bringing CPI down by around 0.12 percentage points. Non-food prices rose by 0.7% as compared to a decline of 0.2% in February, contributing to a 0.56 percentage point rise in CPI.
March CPI fell by 0.5% in on-month terms however, due to the impact of seasonal factors in relation to the Spring Festival. In February China’s national CPI posted an on-month increase of 0.6%.