BEIJING (Reuters) – Producer prices in China rose at a slightly slower pace in March but still beat market expectations as the country grapples with cost pressure from the invasion of Ukraine by Russia and the persistent problems affecting supply chains.
The producer price index (PPI) rose 8.3% year on year, official data released by the National Bureau of Statistics (SNB) showed on Monday, representing a slowdown from 8 .8% recorded in February.
Analysts polled by Reuters had expected a 7.9% rise.
The consumer price index (CPI) rose 1.5% in March, the data showed, from 0.9% the previous month. Analysts expected growth of 1.2%.
The world’s second largest economy had to deal with a resurgence of the coronavirus epidemic on its territory in March and a decline in activity in the service and manufacturing sectors.
(Report Liangping Gao, Ellen Zhang and Ryan Woo; French version Camille Raynaud)
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