Live news: Chinese prices rise at slowest pace in 12 months as demand lags

Prices in China rose at their slowest pace in a year in February, tempering expectations for an economic rebound.

Consumer prices added 1 per cent, the smallest rise in 12 months. Producer prices fell 1.4 per cent after four consecutives months of declines. Both readings missed economists’ expectations.

While the low reading was affected by food prices and partly attributed to the timing of Chinese new year, it also brought echoes of the consistently weak consumer demand under the country’s pandemic-era closure.

China’s economy grew just 3 per cent last year and is grappling with a property crisis and falling exports.

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