The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Thursday. The Chinese consumer price index (CPI) rose at annual rate of 2.3% in February, exceeding expectations for a 1.9% increase, after a 1.8% gain in January. It was the biggest rise since July 2014.

Food prices rose at an annual rate of 7.3% in February, while non-food prices increased 1.0%.

On a monthly basis, consumer price inflation increased 1.6% in February, after a 0.5% rise in January.

The Chinese producer price index (PPI) dropped 4.9% in February, in line with expectations, after a 5.3% decline in January.