CPI in­crease is slow­est in more than five years

China Daily (Canada) - - FRONT PAGE -

China’s con­sumer price in­dex, a main gauge of in­fla­tion, in­creased 0.8 per­cent year on year in Jan­uary, the slow­est rise in more than five years, the Na­tional Bureau of Statis­tics an­nounced.

Food prices, which ac­count for nearly one-third of China’s CPI, in­creased 1.1 per­cent year on year. Ona­monthly­ba­sis,con­sumer­prices in Jan­uary edged up 0.3 per­cent.

The NBS at­trib­uted the tem­per­ing growth to re­treat­ing food prices due to warmer weather dur­ing the pe­riod. A big­ger com­par­i­son base last year, and global oil prices also helped drag down the price lev­els.

Mean­while, China’s pro­ducer price in­dex (PPI), which mea­sures whole­sale in­fla­tion, plunged 4.3 per­cent year on year in Jan­uary, mark­ing the 35th straight month of decline.

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