Higher food prices fuelled a rise in Chinese inflation in March, while the pace of deflation in producer prices moderated from the previous month.

食品的涨价帮助推升了3月份中国的通胀率。与此同时，生产者价格通缩的节奏比前一个月有所缓和。

The official consumer price index rose 2.3 per cent year-on-year in March, according to China’s National Bureau of Statistics, coming in just below expectations of 2.4 per cent among analysts surveyed. Consumer prices had risen at the same rate in February, accelerating from 1.8 per cent in January.

根据中国国家统计局(National Bureau of Statistics)的数据，3月份中国官方消费者价格指数(CPI)同比增长2.3%，只比在分析师中调查得出的2.4%略低一点。此前2月份上涨幅度与此相同，高于1月份的1.8%。

Despite a fall in transport and communications prices thanks to persistently low commodity prices, the headline figure was kept aloft in March partly by rising food prices, with fresh vegetable prices rising 35.8 per cent year-on-year to add 0.92 percentage points to the headline figure, while pork prices were up 28.4 per cent, contributing 0.64 percentage points.

尽管交通和通信方面的价格由于大宗商品价格持续走低而出现下跌，这一备受关注的数据却在3月份保持在高位，其原因部分是食品价格的攀升。其中，新鲜蔬菜的价格同比上涨35.8%，把通胀率拉高了0.92个百分点，而猪肉价格则上涨28.4%，贡献了0.64个百分点的通胀率。

An explanatory note released alongside the latest data pegged attributed the rise in annualized prices to a particularly cold winter across China. Core inflation, which does not include food or energy costs, was up 1.5 percent year-on-year.

与最新数据一道发布的解释说明文件，将物价的年度增幅归因于全国性的特别寒冷的冬季。至于不包括食品和能源价格的核心通胀率，其同比涨幅则为1.5%。

Meanwhile producer prices fell 4.3 per cent year on year in March – less severe than expectations of -4.6 per cent and up from a reading of -4.9 per cent in February.

同时，3月份生产者价格指数(PPI)同比跌幅只有4.3%，低于预期4.6%的跌幅，也小于2月份4.9%的跌幅。

While the latest reading of the official producer price index indicates chronic overcapacity remains a serious issue for China’s industrial sector, it also reflects continued improvement since January, when a five-month streak at -5.9 per cent finally snapped.

虽然最新的中国官方PPI指数显示长期的产能过剩依然是中国工业部门的严重问题，但该指数也显示出自1月份以来情况在持续好转。今年1月，中国终于结束了连续5个月PPI同比跌幅达5.9%的状况。