Agencies
Inflation in China accelerated last month to hit a five-month high, official figures revealed on Sunday, as the Lunar New Year holiday boosted consumer spending in January.
China has struggled to raise consumption and stave off deflation for months as sluggish spending, a property slump and ballooning local government debt all weigh on growth.
The CPI, a key measure of inflation, rose 0.5% last month, up from a 0.1% rise in December, according to the National Bureau of Statistics (NBS).
The reading from January, which coincided with the start of the long Lunar New Year holiday this year, is the highest since August’s reading of 0.6%.
