China's consumer inflation in February fell at the quickest pace since January 2024, while producer price deflation persisted, as seasonal demand faded while households are still cautious about spending.

The consumer price index edged down 0.7 percent last month from a year earlier, reversing January's 0.5 percent increase, data from the National Bureau of Statistics showed on Sunday.

It was the first contraction in the index since January 2024, and worse than a 0.5 percent slide estimated by economists in a Reuters poll.

CPI fell 0.2 percent month-on-month, against a 0.7 percent rise in January and below a predicted 0.1 percent drop.

The producer price index fell 2.2 percent on year in February, improving from a 2.3 percent slide in January, but missing the forecast 2.1 percent decline. (Reuters)