Core Insights - The March Consumer Price Index (CPI) and Producer Price Index (PPI) both showed declines due to seasonal and international factors, but the core CPI demonstrated a significant recovery, rising from a 0.1% decrease to a 0.5% increase year-on-year [1][2] Group 1: CPI Analysis - The decline in March CPI was primarily influenced by seasonal factors and international input, with food prices decreasing by 1.4%, contributing approximately 0.24 percentage points to the overall CPI decline [2] - The core CPI's year-on-year increase indicates a positive shift in consumer demand, driven by policies encouraging the replacement of old consumer goods and equipment [1][3] Group 2: PPI and Economic Outlook - The PPI saw a year-on-year decline of 2.3% in the first quarter, reflecting ongoing pressures from insufficient demand and external uncertainties [3] - Experts anticipate that macroeconomic policies will accelerate in the second quarter, focusing on boosting consumption, stabilizing the real estate and stock markets, and supporting private enterprises [3]