China Feb CPI surprises positively, rises 2.3% y/y vs. 1.8% exp

By FXStreet As NBS reports:

On annualized basis, China’s consumer prices unexpectedly picked-up pace in Feb, rising 2.3% versus 1.8% growth seen in Jan and came in much higher than 1.8% rise expected, marking the fastest increase since July 2014.

While on monthly basis, China Feb CPI rose 1.6% vs. +0.5% booked in Jan

Food costs climbed rapidly, +7.3% y/y (non-food +1.0% y/y)

Separately the factory gate prices for Feb showed:

PPI -4.9% y/y, vs. expected -4.9%, prior was -5.3%.
PPI -0.3% m/m VS -0.5% m/m Jan
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Source:: FX Street