China’s consumer inflation rate rises for first time in six months. But the holiday boost is likely to fade ...Middle East

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By Laura He, CNN Hong Kong (CNN) — China’s consumer inflation turned positive for the first time in six months, largely supported by the Lunar New Year holiday, when a spending boom pushed up prices. The Consumer Price Index (CPI) increased by 0.7% in February from a year earlier, government data showed on Saturday, versus a rise of 0.3% forecast in a Reuters poll. This was the first increase in the inflation rate since August 2023. In January, the index fell by the fastest rate in 15 years. But analysts said the year-on-year gain was partly due to the Lunar New Year holiday, which fell in February this year and in January last year. Based on cycles of the moon, the date of the holi

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Last updated : 11 March 2024 clock 08:32 AM

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China’s consumer inflation rate rises for first time in six months. But the holiday boost is likely to fade ...Middle East

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