Measures to contain the coronavirus have disrupted food production and deliveries in parts of the country, causing prices to rise.
(Photo: dpa)
Beijing In China, the rise in producer prices slowed further in March. The price index for manufacturers rose by 8.3 percent in March compared to the previous year, according to the statistics office in Beijing on Monday.
The increase was therefore somewhat higher than experts had expected on average. However, as in the previous month, it remained in the single digits. Before that, producer prices had risen by double digits in some cases, with the 13.5 percent rise in October being the highest in 26 years.
Oil prices rose sharply in March due to the war in Ukraine and Western countries’ sanctions against Russia. Although this was offset by extensive corona lockdowns in large Chinese cities, which aroused concerns about the economy and pushed oil prices down again towards the end of March, oil prices were still higher than in February.
Meanwhile, the Chinese government’s measures to contain the spread of the virus have disrupted food production and deliveries in parts of the country, causing prices to rise. The prices for fresh vegetables have soared by a good 17 percent year-on-year, and the prices for transport fuel by almost a quarter.
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This was reflected in consumer prices. These rose by 1.5 percent year-on-year in March. That was slightly more than experts had expected on average and also more than the 0.9 percent increase in February.
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