China: CPI dropped 0.2 percent


Chinas consumer price index, a main gauge of inflation, dropped by 0. 2 percent year-on-year last month, versus a 0. 3 percent decline in January, the National Bureau of Statistics said on Wednesday. . . The decline in CPI narrowed as non-food prices fell slower amid growing demand for cultural and entertainment services during the Spring Festival holiday and rising global oil prices, the NBS said. . . Non-food prices dropped by 0. 2 percent year-on-year in February, narrowing from a 0. 8 percent decline in the previous month. Food prices dropped by 0. 2 percent year-on-year last month, versus a 1. 6 percent rise in January, as pork prices declined by 14. 9 percent from a high comparison base last year amid a continuous recovery in pork production, the bureau said. The growth in core CPI, which excludes food and energy prices, came in at zero last month, up from a 0. 3 percent decline in the previous month. The countrys producer price index, which gauges factory-gate prices, rose by 1. 7 percent year-on-year in February, up from 0. 3 percent a month earlier, as global commodity prices continued to rise while domestic demand recovered, the NBS said.

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