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Wednesday, March 10, 2010

DATA SNAP: China February CPI Up 2.7% On Year; Market Expected Up 2.4%

By China Bureau

Dow Jones Newswires

BEIJING -(Dow Jones)- China's consumer price index in February rose 2.7% from a year earlier, quickening from January's 1.5% rise, government data showed Thursday.

The rise rise was higher than the median forecast of a 2.4% rise in a Dow Jones Newswires poll of 11 economists.

The producer price index, a gauge of ex-factory prices, rose 5.4% in February from a year earlier, higher than 4.3% in January and higher than the poll's median forecast of a 5.0% rise.

The CPI in the first two months of the year rose 2.1% from a year earlier, faster than December's 1.9% rise, the data showed.

The CPI data for January-February strips out the impact of the weeklong Chinese New Year holiday, when consumer prices often rise. The break fell in February this year, but in January last year.

The National Bureau of Statistics is holding a news conference that started at 0200 GMT on the January-February data.

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