CPI rose modestly 1.8%
PPI remains in decline at -0.7%
China strives to level consumer demand
China's consumer inflation continued to rise modestly in December while producer prices remained inflationary, according to data released on Thursday.
The National Bureau of Statistics (NBS) revealed that the producer price index (CPI) rose by 1.8% in December from 1.6% year-on-year in November.
Overall in 2022, consumer inflation in China is at 2%, below the official target of around 3%.
Meanwhile, the producer price index (PPI), which reflects the price that factories charge wholesalers for products, fell by 0.7% year-on-year, up from a 1.3% decline in November.
For the whole of 2022, PPI increased 4.1% compared to the previous year, according to NBS.
China has struggled with a zero-Covid policy in the past year, causing its economic activity to lag behind other major countries that have come out of lockdown earlier.
NBS head of statistics Dong Lijuan said authorities had taken steps last month to coordinate coronavirus prevention and economic development to ensure stable supply and prices.
