The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Saturday. The Chinese consumer price index (CPI) rose at annual rate of 1.6% in December, in line with expectations, after a 1.5% gain in November.

Food prices rose at an annual rate of 2.7% in December, while non-food prices increased 1.1%.

On a monthly basis, consumer price inflation increased 0.5% in December, after a flat reading in November.

The Chinese producer price index (PPI) dropped 5.9% in December, missing expectations for a 5.8% fall, after a 5.9% decline in November.