MNI BRIEF: China March Inflation Rose To 3-Mon High, PPI Eases

China's March consumer price index rose 1.5% y/y, accelerating from February's 0.9% and outshining a 1.4% forecast driven by rising energy prices, data from the National Bureau of Statistics on Monday showed.

The gain, the highest level this year, due to rising industrial consumer goods, especially petrol, diesel and LPG prices, which rose 24.6%, 26.9% and 27.1%, respectively. Core CPI, excluding food and energy prices, rose 1.1% y/y, flat from February. On a monthly basis, CPI rose 0.0%, compared to January's 0.6%.

The producer price index measuring factory gate prices further eased for the fifth month to 8.3% y/y from January's 8.8% y/y, but higher than the 8.1% forecast. On a monthly basis, PPI gained 1.1%, quickening from February's 0.5% due to higher input costs from oil and non-ferrous metals among others, the NBS said.