Consumer Inflation in China Increases for January Amid Spending Surge
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China's consumer inflation rose 0.5% in January, driven by household spending during Lunar New Year, contrasting with ongoing deflationary pressures.
China's consumer inflation saw a rise for the first time since August, likely influenced by an increase in household spending during the Lunar New Year holiday, even as deflationary pressures continue to be a concern.
The National Bureau of Statistics reported a 0.5% increase in the consumer price index for January compared to the same month last year. This rise compares to a 0.1% gain in the previous month. Economists surveyed by Bloomberg had predicted a median increase of 0.4%.
