Consumer prices fell in China in February for the first time in 13 months, as persistent weak demand was compounded by the early timing of the Lunar New Year holiday

China’s consumer prices fell in February for the first time in 13 months, in data that was distorted by seasonal factors but suggests deflationary pressures continue to weigh on the world’s second-largest economy.

China's consumer price index in February missed expectations and fell at the sharpest pace in 13 months, while producer price deflation persisted, as seasonal demand faded and households remained cautious about spending amid job and income worries.