China inflation eases in March

China’s consumer price index (CPI) grew 2.1% in March from a year earlier, easing from the previous month as food price growth slowed, Bloomberg reported. The measure of inflation was down from 3.2% in February, when spending for the Chinese New Year holiday accelerated price growth. The March figure came in below the forecasts of 38 analysts surveyed by Bloomberg, who gave a median estimate of 2.5%. The decrease was largely due to food costs, which rose 2.7% year-on-year in March, down from 6% growth in February. Producer prices fell 1.9% in March, compared with a 1.6% decline in February.