China’s consumer inflation rose less than expected in January while the deflation in producer prices persisted, in a sign of continued deflationary pressure in the absence of stronger stimulus.
The consumer price index rose 0.2% in January from a year earlier, China’s National Bureau of Statistics data showed on Wednesday, below economists’ forecast of 0.4% increase in a Reuters poll. That followed a 0.8% growth in December, its highest level in nearly three years.
Prices rose 0.2% month-on-month, below economists’ forecast of a 0.3% increase.
Core CPI, which strips out volatile food and energy prices, jumped 0.8% from a year earlier, easing from the 1.2% in December.
China’s producer price index declined 1.4% from a year ago, better than economists’ expectations of a 1.5% drop, official data showed, moderating from a 1.9% drop in December.
