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China's February producer inflation flat, consumer inflation eases

Staff Writer |
China's factory-gate inflation in February stayed flat from a month earlier, while gains in consumer prices slipped to the lowest level in more than a year.

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China's producer price index (PPI) in February rose 0.1 percent on year, data from the National Bureau of Statistics (NBS) showed, the slowest pace since September 2016, and compared with a 0.1 percent increase in January.

On a monthly basis, producer prices have already been falling over the past four months. In February, PPI fell 0.1 percent, moderating from a 0.6 percent decrease in January.

Data showed prices for raw materials dropped 1.5 percent on year, moderating from a decline of 1.6 percent the previous month. Prices also fell in the production sector.

The consumer price index (CPI) in February rose 1.5 percent from a year earlier, the slowest since January 2018 and dragged lower by easing food price inflation.

That compared with a 1.7 percent increase in January and was below the government target of around 3 percent this year.

On a month-on-month basis, the CPI rose 1.0 percent.

The food price index in February rose 0.7 percent from a year earlier, much lower than January's reading of 1.9 percent.

The core consumer price index, which strips out volatile food and energy prices, climbed 1.8 percent on year, easing from January's 1.9 percent gain.

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