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China's CPI weakend in March

Chinese consumer prices weakened further in March, but were little changed compared to a year ago, while producer prices rose at a steady pace. Beijing’s official consumer price index (CPI) rose 0.9% from a year ago, after slowing to 0.8% in February, the National Bureau of Statistics said in a report on Wednesday. Analysts in a median estimate called for a year-over-year gain of 1.1%. Consumer inflation has weakened sharply over the past two months after recording its strongest expansion since mid-2014.

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UK CPI unchanged in March

The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.3% in March 2017, unchanged from February. The rate has been steadily increasing following a period of relatively low inflation in 2015.Rising prices for food, alcohol and tobacco, clothing and footwear, miscellaneous goods and services were the main upward contributors to change in the rate.These were largely offset by a downward contribution from transport, particularly air fares and, to a lesser extent, motor fuels. The Consumer Prices Index (CPI) 12-month rate was also 2.3% in March 2017, unchanged from February.

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Eurozone CPI down to 1.5%

Euro area annual inflation is expected to be 1.5% in March 2017, down from 2.0% in February 2017, according to a flash estimate from Eurostat, the statistical office of the European Union.

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UK CPI surged by 2.3%

UK consumer prices rose 0.7% in February compared with expectations of a 0.5% increase and the year-on-year rate increased to 2.3% from 1.8%. This was above consensus forecasts of an increase to 2.1% and was also the highest reading since September 2013. The annual rate was also above the Bank of England’s 2% target for the first time since late 2013. Core inflation rose to 2.0% from 1.6% previously while the RPI inflation rate increased to 3.2% from 2.6%.

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