BEIJING (Pakistan Point News / Sputnik - 09th January, 2020) China's consumer price index (CPI) saw a 2.9 percent year-on-year increase in 2019, the National Bureau of Statistics has revealed.
The CPI annual percentage change is used as a measure of inflation.
"As of 2019, the CPI rose by 2.9 percent compared to the previous year," the National Bureau of Statistics said.
This is nearly in line with the official forecast of the government, under which the 2019 inflation should amount to 3 percent.
China's December 2019 CPI grew by 4.5 percent in general year-on-year: by 4.2 percent in cities and by 5.3 percent in rural areas.
Food prices surged by 17.4 percent year-on-year in December, while non-food prices increased by 1.3 percent only. Consumer goods prices rose by 6.4 percent, while services prices increased by 1.2 percent.
China's CPI grew by 2.1 percent year-on-year in 2018, although the government expected to see a 3 percent increase as well.
