The Chinese National Bureau of Statistics recently released the official CPI (Consumer Price Index) number for February. The CPI increased by 3.2 percent, which is the highest in ten months. Among the different components of the CPI formula, the food price index increased six percent, which included a 10 percent increase in fresh vegetables. The prices of rice and of fruit increased by 5.1 percent and 3.7 percent, respectively. Some experts expressed the belief that the Chinese New Year was the main cause of the increase in the February CPI. However, the numbers still caused widespread concern among economists about inflation. The Chinese government injected a large amount of currency into the economy in the past twelve months in order to deal with the economic downturn. The CPI calculation does not include housing prices.
National Bureau of Statistics, March 9, 2013
Xinhua, March 10, 2013