Deflation in wholesale prices from China

Decreased by 2.3% from March to March and remains low for 25 consecutive months

The index of China Wholesale prices fell 2.3 percent year on year in March, following a decline of 2 percent in February, the National Bureau of Statistics (NBS) in the country.

The index, which measures inflation at the level of wholesale, is in deflationary field for 25 consecutive months, the longest decline since the 1990s of the last century.

Among the top 30 industries studied, a total of 14, including electricity generation and petroleum refining, intermonthly recorded increases; while the remaining 16, which include the casting of non-ferrous metals and coal mining were reduced, said Yu Qiumei NBS expert.

Industries began to fill inventories in March after the Spring Festival, the Chinese Lunar New Year, which drove the rebound in prices of some products such as sulfuric acid, electrolytic copper and liquefied natural gas, Yu said.

Source: Xinhua News Agency

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