Financial and business news from Bulgaria

China Consumer Price Index for February rose to 5.2%

China's consumer price index for the month of February has risen to 5.2 percent year-on-year, but analysts expect it to drop as the country's outbreak subsides, Radio China reports.
The index's value was 0.2 percentage points higher than that for January, when it rose to 5.4 percent, the State Bureau of Statistics specified. From there, they pointed out that the February increase was again due to growth in food prices. For example, the price of pork has risen by 135.2% year-on-year and contributed 3.12 percentage points to the growth of the index.

Food prices rose mainly because of transport restrictions in the country imposed to contain the epidemic of the new coronavirus and labour shortages in the sector. Some places lack certain products because of the later opening of markets and some companies, as well as because of hoarding by people.

At the same time, the prices of other goods that are not related to daily consumption remain room and some even fall. In February, the price of gasoline declined 5.7 percent compared to the previous month and that of diesel by 6.2 percent.

According to a report from the Bank of Communications Bank (Bank of Communications), the consumer price index will remain above 4% in the whole first half, as the reason for this will mainly be the momentum from its big growth in January and February.