China Feb consumer inflation highest since late 2013


Tianhan Chen | Cpressphoto | Getty Images

The landscape of city sunrise in Beijing, China on March 25, 2016.

China’s February consumer inflation accelerated at its fastest year-on-year pace since November 2013, statistics bureau data showed on Friday.

However, this was largely due to higher food prices as China celebrated the long Lunar New Year holiday, official data showed on Friday.

The consumer price index (CPI) quickened to 2.9 percent in February, beating economists’ forecasts of a 2.5 percent gain, and picking up from a 1.5 percent growth in January, according to data from the National Bureau of Statistics (NBS).

China earlier this week announced it has set its 2018 consumer inflation goal at “around 3 percent’, in line with last year’s target.

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