China’s CPI softens to 0.7% YoY in March vs. 1.0% expected

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China’s Consumer Price Index (CPI) came in at 0.7% than a year earlier in March, rising slower than the 1.0% annual gain seen in February, the latest data from the National Bureau of Statistics (NBS) showed on Tuesday. The market consensus was for a 1.0% increase.

On a monthly basis, the country’s CPI data dropped by 0.3% in March versus 0.1% expected and -0.5% booked in February.

China’s Producer Price Index (PPI) decelerated by 2.5% YoY in March, compared with the -2.5% expectations and -1.4% previous reading.

At the time of writing, AUD/USD is little changed on the data release, keeping the green near 0.6650, up 0.15% on the day.

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