3月核心CPI明显回升！国家统计局，最新公布

Group 1 - The core viewpoint of the article highlights that despite a decline in CPI and PPI in March, the core CPI has shown a significant recovery, indicating improvements in supply-demand structure and some positive price changes [1][4][6] - In March, the CPI decreased by 0.4% month-on-month and 0.1% year-on-year, while the PPI fell by 0.4% month-on-month and 2.5% year-on-year, with the CPI performance slightly better than market expectations [4][5] - Seasonal factors and the decline in oil prices are identified as key influences on the CPI and PPI, with the recent drop in WTI crude oil prices reaching a four-year low of $55.12 per barrel [4][5][3] Group 2 - The core CPI, excluding food and energy prices, increased by 0.5% year-on-year in March, reversing a previous decline, with service prices also showing a positive trend [7][8] - Specific service prices such as domestic services, hairdressing, and cultural entertainment have increased, indicating a recovery in consumer demand [7][8] - The average core CPI for the first three months of the year stands at 0.3%, suggesting that core inflation is still in a recovery phase [9] Group 3 - There is an increasing expectation for monetary policy easing, with discussions around potential rate cuts and reserve requirement ratio reductions gaining momentum [10][11] - The People's Bank of China has indicated a willingness to adjust monetary policy based on economic conditions, with expectations for a possible rate cut in April [12][13] - Analysts suggest that a combination of rate cuts and structural tools could enhance market confidence and support the real economy [13]