China's CPI up 2.9％, PPI 3.7％ in February

China's consumer price index (CPI) rose by 2.9 percent year-on-year in February, data from the National Bureau of Statistics (NBS) showed Friday.

The increase was up from 1.5 percent for January, mainly supported by the increase in food prices during the Spring Festival and the low temperatures in the country which affected the production and transportation of some agricultural products, the NBS said on its website.

With the "festive factor" subsiding, the year-on-year increase in CPI is expected to decline in March.

The producer price index (PPI), which measures costs for goods at the factory gate, however, rose by 3.7 percent from a year earlier, cooling to a 15-month low.

It was down from 4.3 percent recorded in January, the NBS said.

According to Chinese Premier Li Keqiang's work report released on Monday, China set its consumer inflation goal at “around three percent” for 2018, in line with last year.

(CGTN)