China consumer price growth slows, renewing deflation fears

March CPI rose just 0.1% while producer price contraction deepened by 2.8%

20240411 china cpi

A vegetable vendor attends to customers at a market in Beijing. © Reuters

CK TAN, Nikkei staff writer

SHANGHAI -- China's consumer prices rose at a slower pace and the decline in producer prices widened in March, renewing concerns about deflationary pressure in the world's second-largest economy.

Figures released by the National Bureau of Statistics on Thursday showed prices for consumer goods grew 0.1% compared with the same month last year, trailing the 0.7% increase recorded in February. That uptick had followed five months of contraction, including the steepest monthly fall in 14 years in January.

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