China’s inflation rate hit a 10-month high in February, as Lunar New Year festivities drove up food prices.
Consumer prices rose 3.2% from a year earlier, with food prices up by 6%.
Inflation has been a hot political issue in China. There have been concerns that if consumer prices rise too much, it may prompt Beijing to tighten monetary policies, which in turn may hurt China’s growth.
However, analysts said the latest data was unlikely to prompt any such moves.
They argued that the price growth was driven mainly by the Lunar New Year celebrations, which are traditionally associated with an increase in consumer spending.
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