RTTNews reports that data from the National Bureau of Statistics showed that China's consumer price inflation returned to negative territory at the start of the year due to seasonal factors, while producer prices climbed for the first time in a year on higher raw material cost.

Consumer prices fell 0.3 percent on a yearly basis in January, reversing a 0.2 percent rise in December. Economists had forecast prices to drop 0.1 percent.

Month-on-month, consumer prices advanced 1 percent, in line with expectations, but faster than the 0.7 percent growth posted in December.

Excluding food and energy, core consumer prices slid 0.3 percent annually versus a 0.4 percent rise in December.

Another report from NBS showed that producer prices climbed 0.3 percent annually, in contrast to a 0.4 percent drop in the previous month. This was the first increase since January 2020. Prices were expected to climb 0.4 percent.