China Inflation Rate at Over 4-Year High of 2.9%
China’s consumer prices rose by 2.9 percent year-on-year in February of 2018, after a 1.5 percent rise in the prior month and above market consensus of 2.5 percent. It was the highest inflation rate since November 2013, as cost of food rebounded sharply and cost non-food rose faster.
On a monthly basis, consumer prices increased by 1.2 percent, much faster than a 0.6 percent gain in the preceding month and above estimates of a 0.8 percent rise. It was the highest monthly figure since February 2016.
The producer price index increased by 3.7 percent from a year earlier in February, compared to a 4.3 percent rise in the prior month while markets estimated a 3.8 percent gain. It was the 18th straight month of rise in producer inflation but the weakest since November 2016.
Source | Trading Economics