China's CPI Gains to Slow in Mar., Official Says
China's CPI rose by 2.7 percent in Feb. from a year earlierï¼Official says the CPI will slow in Mar. as seasonal factors fade
China's consumer price index (CPI) rose by 2.7 percent in Feb. from a year earlier, up from January's 1.5 percent increase, the National Bureau of Statistics announced on Mar.11. Regarding that, bureau spokesman Sheng Laiyun said the rise in Feb. was partly attributable to structural and seasonal factors, especially to the Lunar New Year holiday.
Sheng explained in a press conference that food and housing price jointly pushed CPI up 2.46 percent. Food price rose by 6.2 percent because of the Lunar New Year festival, contributing 2.01 percent of CPI.
CPI for Jan. and Feb. combined rose 2.1 percent from the same period last year, still below the benchmark of 3 percent. He also predicted that the CPI would slow in Mar. as seasonal factors fade. "We believe with the arrival of spring and good weather, the seasonable impact will gradually disappear," Sheng said. "March CPI will probably come down."
