China's CPI up 5.2% year-on-year in February: NBS

Source:Global Times Published: 2020/3/10 10:18:41

A resident buys pork in a supermarket in Southwest China's Chongqing Municipality on Monday. Photo: cnsphotos

China's consumer price index (CPI), a main gauge of inflation, soared by 5.2 percent year-on-year in February, down 0.2 percentage points from January, the National Bureau of Statistics (NBS) said on Tuesday.

The index has maintained a high level since it rose 5.4 percent year-on-year in January, its highest rise since November 2011. 

According to the NBS, February's gain was fueled by a surge in food prices. In the month, pork prices rose by 135.2 percent year-on-year, contributing a 3.19 percentage point increase to the CPI.

The food price rise was mainly due to a transportation lockdown across the country to contain the spread of the new coronavirus, while a delivery labor shortage further added to costs, the NBS said.

Supply has been affected as some companies and markets delayed reopening and many consumers stockpiled food, it said.

In the first two months, food prices rose 21.3 percent year-on-year, expanding 20 percentage points.

China's producer price index (PPI), which measures the cost of goods at the factory gate, was down 0.4 percent year-on-year in February, sliding from a 0.1 percent rise in January, according to the NBS.


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