The inflation rate in China slowed to 13-month low in February 2019. According to the National Bureau of Statistics of China (NBS), the consumer price index went up 1.5 percent year-on-year last month, compared to 1.7 percent growth in January.
Analysts polled by The Wall Street Journal also predicted a 1.5 percent slowdown in inflation in February.
On a yearly basis, food prices eased to 0.7 percent from 1.9 percent in January. Prices for fruits rose at a softer pace (from 5.9 percent to 4.8 percent), and fresh vegetable prices grew 1.7 percent, compared to a 3.8 percent jump in the previous month.
Cost of clothing climbed 2 percent, while prices for household goods advanced by 1.3 percent. However, cost of transport and communication fell by 1.2 percent.
On a monthly basis, consumer prices went up 1 percent in February, the fastest pace in a year.
Core inflation, which strips out volatile food and energy prices, reached 1.8 percent, compared to 1.9 percent in the previous month.
Producers do not seek to raise prices. China's producer price index (PPI) remained unchanged at 0.1 percent year-on-year below analysts’ estimates of 0.2 percent.
A significant slowdown that matched experts' forecasts indicates the weakening demand in China in the context of the decelerating economic recovery.
