China PPI turns positive in March, ending 41-month slump
China’s producer price index (PPI) rose 0.5% YoY in March, ending a 41-month streak of declines — the first positive reading in more than three years, according to official data. The reading beat a Reuters poll estimate of 0.4%, reflecting rising import cost pressures linked to the Middle East crisis. The consumer price index (CPI) rose 1.0% YoY, slowing from 1.3% in February and missing economists’ expectations of 1.2%. The National Bureau of Statistics attributed the slowdown to a seasonal demand decline following the Chinese New Year holiday. The government has set this year'’s CPI growth target at around 2%.
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