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China's inflation eases ahead of Lunar New Year

Source : AP
Last Updated: Fri, Feb 08, 2013 06:15 hrs

China's inflation has eased ahead of the Lunar New Year holiday, but vegetable prices spiked higher amid unusually cold weather.

Data on Friday showed consumer prices rose 2 percent in January over a year earlier, down from the previous month's 2.5 percent. The decline came despite a 37 percent jump in vegetable prices.

The decline in January inflation was due in part to the comparison with the same month last year. Last year's Lunar New Year holiday, when food prices spike as families stock up for banquets, began in January, pushing up the basis for comparison. This year the holiday begins in February.




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