China will release its official macroeconomic data for March on Monday. And many analysts are weighing in now with their forecasts for the country's CPI and PPI.

Pork prices will be a key factor for analysts in forecasting March's CPI figure. Haitong Securities says that while vegetable prices dropped in March, increasing pork prices would likely push the CPI to a 2.5-percent increase year on year. Meanwhile, Haitong also predicts that March's PPI will drop 4.2 percent from a year ago while slightly improving 0.6 percent month on month.

China Galaxy Securities and Guotai Junan Securities share similar views on the CPI. China Galaxy expects that the March CPI will increase 2.8 percent from a year ago due to rising vegetable and pork prices. The company also noted that pig farms profits are at a high level. That will encourage farmers to raise more pigs and ease the pork supply shortage. 

But some analysts see things differently. Pingan Securities predicts that the March CPI will decrease to 2 percent year on year, saying that inflation will be moderate this year.