Data released by the National Bureau of Statistics of China yesterday, Sunday, showed that the Consumer Price Index (CPI) in the People's Republic grew at the fastest pace in five months during January.
According to the data, the Consumer Price Index (overall inflation in China) recorded a year-on-year growth of 0.5% in December, which was higher than expectations that anticipated a growth rate of around 0.4%. The January figures were lower than those recorded in December, which indicated a growth in the Consumer Price Index of 0.1%.
However, on the other hand, the Producer Price Index continued to contract, with data from the statistics office indicating that the Producer Price Index in China experienced an annual contraction in January at the same rate as the previous month - December - which was 2.3%, while forecasts had pointed to a contraction of 2.2%.
