China consumer prices rise in February for first time in six months

Chinese consumer prices rose in February for the first time since August, data showed Saturday, bucking a months-long stretch of deflation that compounded the country's myriad economic woes.

Consumer prices traditionally see a boost during the Chinese New Year period, which fell in February this year. Photo: STR / AFP/FileChinese consumer prices rose in February for the first time since August, data showed Saturday, bucking a months-long stretch of deflation that compounded the country's myriad economic woes.posted some of its lowest growth in decades last year and is battling a prolonged property sector crisis and soaring youth unemployment.

The figure was higher than a 0.3 percent rise analysts surveyed by Bloomberg had expected and a sharp increase on the 0.8 fall seen in January, their sharpest drop in more than 14 years.On Tuesday, Premier Li Qiang told that gathering the country would seek five percent growth in 2024 -- an ambitious goal that he acknowledged would be"not be easy" given the headwinds facing the economy.Apart from a brief rebound in August, prices had not risen until last month.

A lack of demand can then force companies to cut production, freeze hiring or lay off workers, while potentially also having to discount existing stocks -- dampening profitability even as costs remain the same.

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