Inflation slowed in January in China, according to official figures released on Wednesday, as the government pledged to keep prices under control.
The producer price index (PPI), which measures the cost of goods leaving the factory, rose to 9.1% year-on-year in January, according to the Office of National Statistics (ONE), after falling prices. of coal and steel.
The index is lower than the 9.5% forecast by economists consulted by Bloomberg and is the third consecutive month that the PPI has fallen, which in December reached 10.3%.
Policies to ensure supply and price stability were “strongly promoted” to alleviate pressure from rising oil and commodity prices on the international market, Dong Lijuan, director of ONE, said in a statement.
The IPP rose four months in a row last year.
At the same time, the consumer price index (CPI), which measures retail trade inflation, rose 0.9% year-on-year in January.
The result was also below analysts’ projections and lower than December’s 1.5% result.
Dong noted that consumer prices remained stable ahead of the Lunar New Year holiday.
Chinese Premier Li Keqiang issued a warning about inflation at a State Council meeting on Monday.
“We have the confidence and the ability to face inflation, but we must be vigilant,” he said.
At the meeting, the government announced measures to ensure food and energy security, including an increased supply of coal and support for coal-fired power plants to run at full capacity.
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