China's Producer Price Index (PPI) turned positive in March for the first time since 2022, while Consumer Price Index (CPI) inflation moderated, according to a report from Nomura.In March, China's CPI rose by 1.0% YoY, lower than the 1.3% in February and shy of the expected 1.1% by the market and the broker. In contrast, the YoY increase of 0.5% in the PPI was slightly higher than the expected 0.4% by the market and the broker, the first time it has seen a positive growth since September 2022, compared to the 0.9% decline in February.Related NewsPPI YoY for Mar in China is 0.5%, higher than the previous value of -0.9%. The forecast was 0.4%.Nomura has raised its 2026 CPI and PPI forecasts for China to 0.6% and 1.0% from 0.4% and -1.0%, respectively, reflecting higher global oil and gas prices, as well as rising prices of non-ferrous metals, memory chips, and raw materials targeted by the anti-involution policy.
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