China's consumer inflation hits 18-month low

China's consumer inflation eased in March to an 18-month low, while its factory-gate prices showed an annual fall for a sixth month, official data showed on Tuesday.

China's consumer price index, a main gauge of inflation, climbed 0.7 percent from a year earlier in March, down from 1 percent in February, according to data from the National Bureau of Statistics.

Food prices rose by 2.4 percent in March compared with a year ago, down from 2.6 percent in February. Pork, a staple in Chinese cuisine, saw prices surge by 9.6 percent, up from a rise of 3.9 percent in February.

The prices of fresh fruits and poultry increased by 11.5 percent and 7.4 percent, respectively, up from 8.5 percent and 6.4 percent in February. The prices of eggs rose by 7.8 percent after a rise of 7.9 percent in February, while the prices of fresh vegetables dropped 11.1 percent after a 3.8 percent decline in February.

On a month-on-month basis, March's CPI dipped 0.3 percent after a 0.5 percent decline in February, the NBS said.

The growth in core CPI, which excludes volatile food and energy prices and is deemed a better gauge of the supply-demand relationship in the economy, rose by 0.7 percent year-on-year in March, up from a rise of 0.6 percent in February.

Dong Lijuan, an NBS statistician, said the consumer inflation eased in March due to continued resumption of production and life as well as sufficient market supplies, while the fall in factory-gate prices was affected by a high comparison base in the previous year.

The producer price index, which gauges factory-gate prices, was down 2.5 percent from a year earlier in March, compared with a 1.4 percent annual contraction seen in February, the NBS said.

On a month-on-month basis, no factory-gate price growth or decline was registered in March, said the NBS.

ouyangshijia@chinadaily.com.cn