China CPI Up 2.5% In December

Consumer prices in China surged in December, according to data from the National Bureau of Statistics. China's consumer price index rose 2.5% y/y in December, versus a 2% gain in the preceding month. Food prices increased 4.2%, while non-food prices climbed 1.7%. China's producer price index declined 1.9% y/y, versus a 2.8% drop in November. Economists were expecting a 2.4% rise in the CPI and a 1.8% fall in the PPI.