China's annual inflation below market expectation in March

ISTANBUL

Annual inflation in China fell short of market expectations last month with a reading of 0.1%, local media reported Thursday.

On a monthly basis, consumer prices fell 1% in March, state-run Xinhua News reported.

Food prices declined 2.7% in March on a yearly basis, with the price of eggs plunging 10.4%, fresh fruits 8.5%, beef 8.4%, and mutton 6%.

Non-food prices edged up 0.7% year-on-year, versus February's 1.1% increase.

The core consumer price index, which leaves out food and energy prices, rose 0.6% year-on-year in March.

China's producer price index also went down 2.8% year-on-year.