Chinese Consumer Prices up 0.9% YoY in January

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The latest consumer price index (CPI) data for China indicates that inflation remains under control, despite breakneck increases in other major economies as a result of COVID-19 related supply chain problems.

In January China’s national CPI rose by 0.9% year-on-year (YoY), with a rise of 1.1% in urban areas and 0.4% in rural areas, according to figures released by the National Bureau of Statistics (NBS) on 16 February.

Food prices fell 3.8% YoY, while non-food prices increased by 2.0%. Consumer goods prices increased 0.4% and service prices rose 1.7%.

China’s national CPI rose 0.4% in January compared to the previous quarter, including a rise of 0.5% in urban areas and 0.3% in rural areas. Food prices rose 1.4%, and non-food prices rose 0.2%.