# core CPI

China’s Consumer Prices Tick Up as Factory Deflation Eases — But Underlying Dynamics Remain Mixed

January data show China’s headline CPI barely rose, held down by a strong base from last year’s Lunar New Year and falling food and energy prices. Core inflation and monthly PPI gains point to improving domestic demand and selective industrial recovery, but producer‑price weakness persists, leaving policymakers balancing support for growth with price stability.