China March PPI rises to highest since 2018, CPI returns to inflation

China's consumer price index (CPI) rose 0.4% from a year earlier in March, the statistics bureau said in a separate statement, compared with a median forecast for a 0.3% rise in a Reuters poll and a 0.2% decline in February.

Reuters | Updated: 09-04-2021 07:21 IST | Created: 09-04-2021 07:21 IST
China March PPI rises to highest since 2018, CPI returns to inflation

China's factory gate prices rose at their fastest annual pace since July 2018 in March, official data showed on Friday, as growth in the world's second-largest economy continued to gather momentum. China's producer price index (PPI) rose 4.4% in annual terms, the National Bureau of Statistics said in a statement. This compared with a median forecast for a 3.5% rise in a Reuters poll of analysts and a 1.7% rise in February.

The inflation data is the lastest indicator to point to robust economic growth in the January-March quarter. Data last week showed China's manufacturing activity expanded at the quickest pace in three months in March as factories ramped up production to keep up with improving global demand. China's gross domestic product is widely expected to expand by more than 8% this year following 2.3% growth in 2020. That was the weakest full-year growth in over 40 years as China grappled with the fallout of the COVID-19 pandemic.

Beijing has set a relatively modest growth target of above 6% for 2021 and continues to warn of uncertainties related to the pandemic, which has now claimed more than 3 million lives worldwide. China's consumer price index (CPI) rose 0.4% from a year earlier in March, the statistics bureau said in a separate statement, compared with a median forecast for a 0.3% rise in a Reuters poll and a 0.2% decline in February.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Videos

Latest News

Tips for Video Conferencing like a Professional on Microsoft Teams

With the pandemic gripping the world, organizations are shifting to a work-from-home model and video conferencing is an integral part of that remote-work-from-home model. With the assistance of video conferencing, team members, sitting at d...

PM took detailed review of current situation of oxygen supply and projected use in coming 15 days across 12 high-burden states: Officials.

PM took detailed review of current situation of oxygen supply and projected use in coming 15 days across 12 high-burden states Officials....

Indian Army turns flags 'blue' from 'red' for people-friendly look in Kashmir

By Ajit K Dubey In an effort to make the Indian Army cantonments and military convoys more population friendly, the Indian Army has now changed the red flags on its convoys to blue colour.Speaking to ANI, Lieutenant Colonel Q Khan said, the...

PM Narendra Modi takes comprehensive review to ensure adequate medical grade oxygen supply in country.

PM Narendra Modi takes comprehensive review to ensure adequate medical grade oxygen supply in country....

Give Feedback