February's 1% CPI Print Should Be Lowest In 2023 - Securities Daily

February's 1.0% y/y increase in the Consumer Price Index should be the lowest result this year, as the economy recovers and prices of housing and services increase, according to the Securities Daily. The low figure was mainly due to the Spring Festival falling in January and depressed prices for pork. The paper said CPI is likely to rise to around 2% in coming months as consumer demand returns and pork prices stabilise, according to the paper. Despite the low increase, deflation is unlikely and the current price level will not hamper macro policy or the expansion of domestic demand and the promotion of consumption.