China's CPI up 0.7% YoY in Feb 2024; PPI drops 2.7% YoY

Source:China Sport ShowRelease time:19-Mar-2024Clicks:

Article From：fibre2fashion

China's consumer price index (CPI) rose by 0.7 per cent year on year (YoY) in February this year against a 0.8-per cent decline in January due to rising demand during February’s Spring Festival holiday, according to official data.

The CPI increased by 1 per cent month on month (MoM) in February, expanding by 0.7 percentage point from that in January, said the National Bureau of Statistics (NBS).

Non-food prices went up by 0.5 per cent MoM during February compared to a 0.2-per cent increase in the previous month.

The core CPI, excluding food and energy prices, increased by 1.2 per cent YoY in the month.

The producer price index (PPI), which measures costs for goods at the factory gate, dropped by 2.7 per cent YoY in February as industrial production slowed down due to the Spring Festival, NBS statistician Dong Lijuan noted.

The decrease widened from a 2.5-per cent decline in January. The PPI edged down by 0.2 per cent MoM, a state-controlled news agency reported.