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China March consumer prices up 2.3 percent

China’s consumer prices rose in March on a yearly basis, but in a less than expected pace. This is due to a fall in food prices after holidays.

According to data released by the National Bureau of Statistics, March’s consumer price index, or CPI, rose 2.3 percent from a year earlier, same as the previous month. On a monthly basis, it fell 0.4 percent. Experts from the NBS said this was due to a drop in the prices of eggs, vegetables, fruit and pork after the Spring Festival.

Producer prices in March fell 4.3 percent from a year earlier, falling slower than the previous month’s 4.9 percent. On a monthly basis the PPI rose 0.5 percent. That’s exceeded market expectations.