Beijing's CPI up 1.6 percent in February

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The consumer price index (CPI) in Beijing rose 1.6 percent year-on-year in February, according to the Beijing branch of the National Bureau of Statistics. The number was down from 1.9 percent in January.

Beijing's CPI in February also increased 1 percent from January. Specifically, food prices climbed by 4.1 percent, which contributed to 0.66 percentage point of CPI increase.

Due to strong consumer demand during the Chinese New Year holiday as well as rainy and snowy weather, prices of fresh vegetables and fruits were up from January by 23.2 percent and 7.5 percent, respectively. Aquatic products, pork, beef, and mutton prices also saw a growth last month. They amounted to a 0.68 percentage-point increase in the month-on-month CPI growth. Meanwhile, prices of dairy products and eggs decreased by 0.27 percent and 5.2 percent month-on-month, respectively, due to abundant supplies.

February's non-food prices gained 0.4 percent from January, contributing to 0.36 percentage point of CPI growth. Travel demands during the Chinese New Year also pushed up the price of tour agency services, which saw a month-on-month increase of 6.3 percent. Gasoline and diesel prices rose 3.6 percent and 3.9 percent from January respectively. Prices of home improvement and repair services as well as car repairs and maintenance also rose. They contributed to 0.07 percentage point of CPI growth.

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