China’s CPI Increases 0.8% In January

China consumer price index (CPI) increased 0.8% year-on-year in January, down by 0.7 percentage points from the previous month, the lowest since November 2009, according to data released by China’s National Bureau of Statistics.

Producer price index (PPI) was below market consensus, declining 4.3% year-on-year in January, compared with December’s 3.3% drop. The gauge has remained in negative territories for 35 consecutive months.

The drop was mainly due to lower food inflation, which fell to 1.1% on a year-on-year basis in January from 2.9% in December, while service inflation and non-food inflation also eased, according to a research report by Nomura.

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