China's consumer price inflation fell to 2 percent year-on-year in January, down from a seven-month high of 2.5 percent in December, dpa quoted the government as saying on Friday. Inflation was still driven by rising food prices and the January figure was artificially low because of seasonal factors linked to China's lunar new year holiday, the National Bureau of Statistics said. Consumer spending rises before China's one-week national holiday for the lunar new year, which fell in January last year but occurs in February this year. January inflation rose 1 per cent month-on-month from December, the highest rate for 11 months, fuelled by rising meat and vegetable prices, bureau spokesman Yu Qiumei said. Food prices, which account for about one-third of the consumer price index, jumped 2.9 per cent year-on-year in January, Yu said. Analysts expected growing inflationary pressure this year and the fall in January was likely to prove temporary, the official Xinhua news agency said. The economy was "steadily recovering" and growing consumer demand would drive up prices, the agency quoted economist Tang Jianwei ofthe state-run Bank of Communications as saying. China's annual economic growth fell to 7.8 per cent last year, the slowest since 1999, down from 9.3 per cent in 2011a
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor