BEIJING (Reuters) – China’s consumer prices rose in February for the first time in six months, providing respite for the world’s second-largest economy, which faces weak demand, a housing crisis and skyrocketing debt municipalities.
Data released on Saturday by the National Bureau of Statistics (NBS) showed that the consumer price index (CPI) rose 0.7% year-on-year last month, compared with a decline of 0.8% in January. . Analysts expected an increase of 0.3% on an annual basis.
The producer price index (PPI) for its part fell to 2.7% at an annual rate in February, after a drop of 2.5% the previous month. Analysts expected a drop of 2.5%.
China announced this week that it would step up economic policy adjustments this year to meet the government’s 2024 growth target of around 5%.
(Reporting Liangping Gao and Ryan Woo; French version Camille Raynaud)
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