Chinese consumer prices rose at the fastest pace in five months in January, as a bump in spending over the lunar new year holiday period breathed life into the world’s second-largest economy, which has been beset by weak demand.
China’s consumer price index gained 0.5 per cent in January compared with the same period last year, official data released on Sunday by the National Bureau of Statistics showed, ahead of the 0.4 per cent growth forecast by economists polled by Reuters.
That figure marked an acceleration from December, when CPI crept up 0.1 per cent year on year, and was the fastest growth rate since August.
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