China March PPI +4.4% y/y, CPI +0.4% y/y

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BEIJING — China’s factory gate prices rose at their fastest annual pace since July 2018 in March, official data showed on Friday, as growth in the world’s second-largest economy continued to gather momentum.

China’s producer price index (PPI) rose 4.4% in annual terms, the National Bureau of Statistics said in a statement. This compared with a median forecast for a 3.5% rise in a Reuters poll of analysts and a 1.7% rise in February.

China’s consumer price index (CPI) rose 0.4% from a year earlier in March, the statistics bureau said in a separate statement, compared with a median forecast for a 0.3% rise in a Reuters poll and a 0.2% decline in February.

(Reporting by Gabriel Crossley; writing by Se Young Lee; Editing by Ana Nicolaci da Costa)