BEIJING (Reuters) – China’s consumer inflation in February fell at the quickest pace since January 2024, while producer price deflation persisted, as seasonal demand faded while households are still cautious about spending amid job and income worries.
The consumer price index edged down 0.7% last month from a year earlier, reversing January’s 0.5% increase, data from the National Bureau of Statistics showed on Sunday, missing a 0.5% slide estimated by economists in a Reuters poll.
CPI fell 0.2% month-on-month, against a 0.7% rise in January and below a predicted 0.1% drop.
The producer price index fell 2.2% on year in February, improving from a 2.3% slide in January, but missing the forecast 2.1% decline.
(Reporting by Qiaoyi Li, Ellen Zhang and Ryan Woo)
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