Xinhua 2016: 03: 10.13: 38
BEIJING, March 10 (Xinhua) – The consumer price index of China (CPI) grew 2.3 percent year on year in February, a figure which exceeded 1.8 percent in January, according to official data released Thursday.
the figure was above expectations, as economists China Bank of Communications and China Merchants Bank predicted an increase of 1.8 percent for February.
the CPI, a major gauge of inflation, rose 1.6 percent on-month, according to a report released by the National Bureau of statement Statistics (NBS).
the analyst at HSBC Qu Hongbin attributed the CPI growth higher than expected mainly to high food inflation.
food prices, representing a third of the CPI calculation, they recorded an annual increase of 7.3 percent, while non-food inflation rose by 1 percent.
prices of pork soared 25.4 percent, contributing 0.59 percentage points to CPI growth, while vegetable prices rose 30.6 percent, representing 0.86 percentage points in the CPI growth.
the NBS statistics Qiumei Yu said prices of vegetables and pork rose due to the shock of –elemento offer that affects the ability of producción– by cold weather in February and because the demand pork and transport rose during the Spring Festival, while prices of services rose while they did labor costs.
Since January, the CPI data are calculated using a new base comparison that takes into account new products and services, reflecting a change in consumption patterns, according to the NBS. The adjustment fell slightly the weight of food.
The producer price index (PPI), which measures wholesale inflation, fell for the 48th consecutive month, registering a decline of 4.9 per percent year on year in February. However, the pace of decline has narrowed, in an uncertain sign of improvement in aggregate demand, according to data from BNE published Thursday.
The IPP, a measure of the cost of products entry into the factory, fell less than in January and December, when recorded falls of 5.3 and 5.9 percent, respectively.
Qu attributed the slowdown in the fall to stabilize prices of raw materials during that period
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