China’s CPI up in January

BEIJING (Xinhua) – China’s consumer price index (CPI), a main gauge of inflation, rose 5.4 percent year on year in January, the National Bureau of Statistics (NBS) said yesterday.

The increase was up from 4.5 per cent in last December.

The hike was mainly driven by the effect of Spring Festival holiday and the novel coronavirus pneumonia epidemic, said NBS senior statistician Dong Lijuan.

Food prices grew 20.6 per cent year on year last month, up from 17.4 per cent last December, while non-food prices gained 1.6 per cent, 0.3 percentage points higher than that of December last year.

Vegetable prices saw a 17.1 per cent increase from a year ago.

The CPI in urban and rural areas posted a year-on-year growth of 5.1 per cent and 6.3 per cent, respectively.

The CPI of Hubei Province rose 5.5 per cent year on year in January, generally in line with the growth of the country’s CPI, reflecting a positive effect of the government’s efforts on securing supply and stabilising prices, said Dong.

Yesterday’s data also showed that China’s producer price index, which measures costs for goods at the factory gate, rose 0.1 per cent year-on-year in January.