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China inflation: cost of food falls, factory-gate prices hit lowest in 6 months
- China’s official consumer price index (CPI) rose by 0.9 per cent in January from a year earlier, down from 1.5 per cent in December
- China’s producer price index (PPI) rose by 9.1 per cent in January, down from a rise of 10.3 per cent in December, and to the lowest level since July
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China’s improving consumer and factory-gate inflation outlook continued last month, data released on Wednesday showed.
The official consumer price index (CPI) rose by 0.9 per cent in January from a year earlier, down from a rise of 1.5 per cent in December, the National Bureau of Statistics (NBS) said.
This was below the expectations of analysts in a Bloomberg survey, who had predicted a slowdown to 1 per cent growth last month.
Food prices fell by 3.8 per cent from a year earlier, down from a fall of 1.2 per cent in December, driven by a 25.6 per cent fall in the meat price and a 4.1 per cent fall in the price of fresh vegetables.
The price of pork – a staple meat on Chinese plates – plunged by 41.6 per cent compared with a year earlier in January, down from a fall of 32.7 per cent in December. It alone dragged down the consumer price index by 0.96 percentage points.
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