China Consumer Price Index Beats Expectations

China’s CPI fell 0.2% year-on-year in February 2021, after a 0.3% decline in the previous month and compared to the market consensus of 0.4%. It was the second consecutive month of deflation, as prices fell for both food and non-food items.

On a monthly basis, consumer prices rose 0.6% in February, the third consecutive month of gains, after a 1% rise in January.

• China CPI (YoY) Feb: -0.2% (est -0.4%, prev -0.3%).
• China Producer  Prices YoY for Feb came in at 1.7% vs the estimated 1.5% and previous 0.3%.
• China CPI (M/M) Feb: 0.6% (est 0.4%, prev 1.0%).