Data released on April 16 by the National Bureau of Statistics showed that in the first quarter, China's Consumer Price Index (CPI) increased by 0.9% compared to the same period last year. The growth rate was 0.4 percentage points higher than that of the fourth quarter of the previous year.
By category, prices for food, tobacco, alcohol, and dining out rose by 0.5% year-on-year. Apparel prices increased by 1.8%, while housing costs declined by 0.2%. Prices for household goods and services went up by 2.3%, and transportation and communication costs dropped by 1.1%. Education, culture, and entertainment prices rose by 1.0%, healthcare costs increased by 1.8%, and prices for other goods and services surged by 14.1%.
Within the food, tobacco, alcohol, and dining-out category, pork prices fell by 11.3%, while grain prices decreased by 0.3%. Fresh fruit prices rose by 4.3%, and fresh vegetable prices increased by 7.6%. Core CPI, which excludes food and energy prices, rose by 1.2% year-on-year.
In March, the national CPI increased by 1.0% compared to the same month last year, but decreased by 0.7% compared to the previous month.
In the first quarter, the national Producer Price Index (PPI) declined by 0.6% year-on-year. The rate of decline narrowed by 1.5 percentage points compared to the fourth quarter of the previous year. In March, PPI increased by 0.5% year-on-year, following a 0.9% decline in February. On a monthly basis, PPI rose by 1.0% in March.
In the first quarter, the national Purchasing Price Index for Industrial Producers decreased by 0.5% year-on-year. In March, it increased by 0.8% compared to the same period last year, after a 0.7% decline in February. Month-on-month, it rose by 1.2% in March.
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