CPI Print Shows Consumption Still In Recovery

China’s March CPI print of 0.1% y/y, down 0.6% from February, shows consumption remains in the post-epidemic recovery stage, according to Luo Zhiheng, chief economist of Guangdong Securities. Luo noted tourism increased by 10.1% y/y but communication tools and transportation decreased by -2.1% and -5.2%, showing current consumption of mobile phones, cars and other commodities remains weak. Wu Ge, chief economist of Changjiang Securities said, given recent data, authorities need to implement policies to expand domestic demand and promote economic growth back to its potential. (Source: 21st Century Herald)