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NBS: CN Mar Food Prices Drop 2.7% MoM; Airfares Fall ~30%; Gasoline Prices Hike 11%+
Dong Lijuan, Chief Statistician of the Urban Department at the National Bureau of Statistics (NBS), said when interpreting the March CPI data that China's CPI fell 0.7% MoM, ma...
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NBS: CN Mar Food Prices Drop 2.7% MoM; Airfares Fall ~30%; Gasoline Prices Hike 11%+
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Dong Lijuan, Chief Statistician of the Urban Department at the National Bureau of Statistics (NBS), said when interpreting the March CPI data that China's CPI fell 0.7% MoM, mainly due to seasonal declines in food and service prices. Food prices shifted from a 1.9% increase in February to a 2.7% decline, dragging CPI down by about 0.48 ppts MoM.

Among services, consumption demand eased notably on a seasonal basis after the long holiday, while supply in some service segments increased after the holiday. Prices of air tickets/ vehicle rentals/ travel agency fees fell 29.5%/ 18.9%/ 14.2% respectively, jointly denting CPI by about 0.34 ppts MoM.

Related NewsPPI YoY for Mar in China is 0.5%, higher than the previous value of -0.9%. The forecast was 0.4%.
Affected by international imported factors, a recovery in domestic demand for certain products and other factors, prices of industrial consumer goods ascended 1%, a 0.6 ppts larger incline from that of February.

Of which, international crude oil prices fluctuated sharply, and domestic refined oil prices were subject to temporary regulatory measures. After adjustments, gasoline prices increased by 11.1%, boosting CPI by about 0.31 ppts MoM.

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