China's consumer price index rose 0.2 percent year on year in January, missing market expectations, according to the National Bureau of Statistics. This marked the fourth consecutive monthly increase, though at a slower pace than December's 0.8 percent rise. Core inflation, excluding food and energy, showed a moderate upward trend amid recovering consumer demand.
China's consumer prices rose for the fourth consecutive month in January, increasing by 0.2 percent year on year, according to data released by the National Bureau of Statistics on Wednesday. This figure fell short of market expectations for a 0.44 percent rise, as polled by financial data provider Wind, and represented a slowdown from December's 0.8 percent increase—the fastest growth in nearly three years.
Senior statistician Dong Lijuan at the bureau attributed the muted CPI growth to the differing timing of the Lunar New Year holiday, which occurred in January last year but will take place in February this year, along with a retreat in global oil prices that pulled down energy costs.
However, core inflation, which excludes volatile food and energy prices, rose 0.8 percent year on year, maintaining a "moderate upward trend" as consumer demand recovers, Dong noted.
The decline in producer prices, or factory-gate prices, also continued to narrow, offering a tentative sign that deflationary pressures in the Chinese economy may be easing. The inflation outlook remains unclear amid these mixed signals.
