China’s CPI rose 1.3% in February as PPI decline narrowed, official data show
The Facts
- China’s consumer price index (CPI) rose 1.3% year-on-year in February, according to the National Bureau of Statistics (NBS).
- The CPI increase followed a 0.2% year-on-year rise in January.
- Core CPI (excluding food and energy) increased 1.8% year-on-year in February, according to NBS data.
- On a month-on-month basis, China’s CPI rose 1.0% in February, according to NBS data.
- China’s producer price index (PPI) fell 0.9% year-on-year in February, and the decline narrowed compared with the previous month, according to NBS data.
- NBS statistician Dong Lijuan said the CPI increase was influenced by Spring Festival timing and a recovery in consumer demand, including higher service prices.
Context
What is the CPI figure and how did it change from January?
The NBS reported CPI rose 1.3% year-on-year in February, up from a 0.2% year-on-year increase in January. China Daily,yicaiglobal.com
What happened to factory-gate prices (PPI) in February?
The NBS said the producer price index fell 0.9% year-on-year in February, with the year-on-year decline narrowing from January’s 1.4% drop; on a monthly basis, PPI rose 0.4%. english.news.cn
What reasons did the NBS give for the CPI pickup?
NBS statistician Dong Lijuan attributed the CPI rise mainly to stronger demand during the Spring Festival period and the holiday’s timing, which helped lift service prices. news.cgtn.com,China Daily
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