2-8-18 9:03 PM EST | Email Article

BEIJING--China's consumer inflation slowed in January to a seven-month low on continued weakness in food prices, official data showed Friday.

China's consumer price index increased 1.5% in January from a year earlier, compared with a 1.8% gain in December, the National Bureau of Statistics said.

Food prices fell 0.5% from a year earlier, declining for a full year, after dropping 0.4% in December. A high base of comparison a year earlier, when food prices spiked during the Lunar New Year holidays, also contributed to the extended food-price deflation, said Sheng Guoqing, an economist at the statistics bureau.

Non-food prices grew 2.0% from a year ago, compared with a 2.4% increase in December.

The key inflation reading matched a 1.5% gain forecast by a Wall Street Journal poll economists.

On a month-over-month basis, the CPI rose 0.6% in January from a month earlier. In December, the index edged up 0.3% from the previous month.

The producer price index rose 4.3% in January, slowing for the third-straight month, compared with a 4.9% on-year increase in December.

The reading for factory-gate prices also matched a forecast for a 4.3% increase from the economist poll.

The PPI increased 0.3% in January from a month earlier. In December, it rose 0.8% from the preceding month.


Write to Liyan Qi at liyan.qi@wsj.com


(END) Dow Jones Newswires

February 08, 2018 21:03 ET (02:03 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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