Consumer prices grew less than expected in China last month and factory gate prices fell for their 35th consecutive month.
CPI grew 0.8 per cent year-on-year in January, versus expectations of a 1 per cent rise. It had grown 1.5 per cent in December according to the National Bureau of Statistics. Beijing targets consumer price inflation at 3.5 per cent, but weakening growth is keeping prices benign.
Factory gate prices meanwhile dropped for a 35th consecutive month, as falling energy and commodity prices continues to push them down. They even fell more sharply than anticipated, by 4.3 per cent year-on-year. Economists had expected a drop of 3.8 per cent; they had fallen 3.3 per cent in December.
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