The consumer price index (CPI) last month was up 0.83 percent year-on-year on increases in fuel, tobacco and Chinese herbal medicine prices, the Directorate General of Budget, Accounting and Statistics (DGBAS) reported yesterday.
Last month's figure was down 1.18 percent month-on-month, the DGBAS added.
Seasonally adjusted, the CPI declined last month 0.13 percent month-on-month at 103.21, according to the DGBAS tallies.
Last month's CPI growth rate compared with February's 1.74 percent year-on-year growth and a seasonally adjusted 0.12 percent month-on-month increase, it added.
The core price index -- excluding prices of vegetables, fruit, fishery products and energy -- rose 0.55 percent, the DGBAS said.
The wholesale price index, meanwhile, rose 7.44 percent year-on-year last month, the biggest increase in seven months as prices of chemical materials, metals and international oil products remained at high levels.
For the first quarter, the CPI rose 0.97 percent from a year ago as merchandise increased by 1.23 percent and services were up 0.66 percent.
The core price index for the first three months edged up 0.68 percent.
The wholesale price index in the first quarter increased 7.07 percent year-on-year.
The central bank last Thursday raised the benchmark interest rate for the 11th straight quarter by 0.125 percentage points to ward off potential inflation risks as development of global raw material prices remains uncertain.
The central bank has adjusted its forecast for CPI growth downward this year, from 1.75 percent to 1.5 percent, still higher than last year's 0.6 percent increase because of favorable weather. The DGBAS put its CPI growth forecast at 1.43 percent for this year.
Meanwhile, slowing consumer price increases may allow the nation's central bank to keep its key interest rate unchanged as economic growth cools amid slowing export growth.
The DGBAS in February forecast that economic expansion would slow to 4.3 percent this year from 4.6 percent last year.
Additional reporting by Bloomberg
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