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MNI BRIEF:China February Inflation Up On Month On Energy Costs

MNI (Singapore)
BEIJING (MNI)

China's February consumer price index rose 0.9% y/y in line with the forecasts, but month-on-month gained on rising global energy and commodity prices, data from the National Bureau of Statistics on Wednesday showed.

On a monthly basis, CPI rose 0.6%, compared to January's 0.4%, as industrial consumer goods increased by 0.8% from unchanged, mainly driven by energy prices. Core CPI, excluding food and energy prices, rose 1.1% y/y, down 0.1 percentage point from the previous month.

The producer price index measuring factory gate prices further eased for the fourth month to 8.8% y/y from January's 9.1% y/y, but higher than the 8.6% forecast. On a monthly basis, PPI gained 0.5% due to surging crude oil, non-ferrous metals, and other commodity prices, the NBS said.

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