China’s consumer price index rose 3.2% in February from a year earlier, reaching a 10-month high due largely to a 6% year-on-year increase in food costs, Reuters reported, citing official data released on Saturday. Food prices typically rise around Lunar New Year, which fell in early February this year, but have remained elevated since then. Rising pork prices are expected to drive broader inflation by the third quarter. There are signs that regulators are shifting their focus from promoting growth to containing inflation. China’s central bank named limiting inflation as a priority in its fourth-quarter policy report in February, in contrast to a previous pledge to support the economy.
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