Sunday, 22 October 2017 06:29 GMT
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China's inflation rate hold steady

(MENAFN - Qatar News Agency) China's consumer price index (CPI), a main gauge of inflation, rose 2.5% year on year in January, the same as the previous month, official data revealed on Friday.



Inflation rose 2.6% in cities, and 2.2% in rural areas, the National Bureau of Statistics (NBS) said in a statement. Food prices, which account for roughly a third of CPI, rose 3.7% in January from a year ago, contributing to a 1.23% age-point increase in January's CPI growth. Prices of non-food products edged up 1.9% last month, the bureau said. In the food category, fruit, milk, beef, mutton, aquatic products and fresh vegetables all rose year on year last month



Fruit prices led the way by jumping 23% from a year ago. Prices of pork, eggs and edible oil contracted year on year in January. Rents went up 4.6% year on year in January, according to the NBS. On a month-to-month basis, January's CPI grew 1% from December. Food prices in January rose 2.4% from the previous month, while prices of non-food products edged up 0.3%.



Meanwhile, China's producer price index (PPI), a main gauge of inflation at the wholesale level, contracted 1.6% year on year in January, following a 1.4% drop in December, according to the NBS
China's inflation rate hold steady