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 1.8% in January, in missing expectations for a 1.9% increase, after a 1.6% gain in December.

Food prices rose at an annual rate of 4.1% in January, while non-food prices increased 1.2%.

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

The Chinese producer price index (PPI) dropped 5.3% in January, beating expectations for a 5.4% fall, after a 5.9% decline in December.