China's CPI hits 13-month low in Feb

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Added On March 11, 2019

China experienced milder inflation in February, with consumer prices at their lowest levels since January 2018.
 
Economy Report has more.
 
PKG
Data from the National Bureau of Statistics showed China's consumer price index rose 1.5 percent year on year in February, compared with January's 1.7 percent.
 
The figures also revealed that Chinese consumers have started upgrading their consumption habits. CPI for services in sectors like education, entertainment and health care all rose over 2 percent year on year.
 
On a monthly basis, China's CPI rose 1 percent from January, exceeding market expectations.
 
Prices for fresh vegetables, fruits, and aquatic products saw significant growth last month, jumping 15.7 percent, 5.4 percent and 4 percent, respectively, from January.
 
Pork, mutton and beef prices also gained, while egg prices decreased 5.3 percent due to an overly abundant supply.
 
Increased travel during Spring Festival and winter vacation pushed service industry prices higher.
 
A separate report showed that China's producer price index, or PPI, which measures the costs of goods at the factory gate, edged up 0.1 percent year on year in February.
 
A good indicator that China's pro-growth measures have started taking effect and that business confidence is recovering.