Chinese inflation eases more than expected
By Michele Maatouk
Date: Thursday 09 Mar 2023
(Sharecast News) - Chinese consumer price inflation eased more than expected in February, according to data released on Thursday by the National Bureau of Statistics.
CPI rose 1% on the year following a 2.1% increase in January, and versus expectations of 1.9%. It marked the slowest rate since February 2022.
The NBS put the slowdown down to cooling demand after the Lunar New Year holiday and ample food supply conditions thanks to warm weather.
Meanwhile, producer price inflation fell 1.4% on the year, having declined by 0.8% in January. Analysts had been expecting a 1.3% drop.
Victoria Scholar, head of investment at Interactive Investor, said: "Despite the release of pent-up demand post the unwind of Beijing's strict anti-Covid measures, the inflation reading suggests that the economic outlook remains uncertain. However, with price pressures under control, this could embolden the authorities to carry out further stimulus as a way to boost demand."
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