China's inflation rebounds to 10-month high in Feb.
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E-mail Xinhua, March 9, 2013
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A customer selects fruits at a market in Changchun, capital of northeast China's Jilin Province, March 9, 2013. China's consumer price index (CPI), a main gauge of inflation, grew 3.2 percent year on year in February, the highest level in ten months, the National Bureau of Statistics announced Saturday. [Xinhua/Zhang Nan] |
China's annual consumer inflation rebounds to a 10-month high of 3.2 percent in February on accounts of rising food prices during the Spring Festival season, data from the National Bureau of Statistics (NBS) data showed Saturday.
On a month-on-month basis, February's CPI gained 1.1 percent from the previous month, according to the NBS statement.
Food prices, accounting for nearly one-third of weighting in China's CPI, remained a key driver of inflation in February as the Spring Festival season, which fell within that month, pushed up demands.
The NBS statement said food prices jumped 6 percent last month from the same period last year, propelling the CPI up by 1.98 percentage points.
But the upward trend is unlikely to sustain as the holiday effect fades off and the warming weather will help supplies, the NBS said, suggesting the CPI growth will ease this month.
In Tuesday's government report, Premier Wen Jiabao said China aims to hold this year's consumer price growth to around 3.5 percent.
In 2012, China's CPI grew 2.6 percent, well below the year's 4-percent control target. Endi
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