March 9, 2018 / 1:59 AM / a year ago

China February consumer inflation highest since late 2013, hits PBOC goal

BEIJING (Reuters) - China’s February consumer inflation accelerated at its fastest year-on-year pace since November 2013, statistics bureau data showed on Friday.

The consumer price index (CPI) quickened to 2.9 percent in February, beating economists’ forecasts of a 2.5 percent gain, and picking up from a 1.5 percent growth in January, according to data from the National Bureau of Statistics (NBS).

China earlier this week announced it has set its 2018 consumer inflation goal at “around 3 percent’, in line with last year’s target, when actual readings were much mildern.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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