China's consumer price index up 2.7% from year-earlier, above 2.4% forecast

China's consumer prices rise more than expected
HONG KONG (MarketWatch)

China's consumer price index accelerated to a pace of 2.7% in February from the year-earlier month, driven by a surge in food prices, according to official data released Thursday. The increase was higher than the 2.4% rise estimated by analysts in a Dow Jones Newswires survey, and was above the 1.5% increase in January's CPI. Food prices jumped 6.2% during the month, driving the price index higher. February's producer price index accelerated 5.4% from the year-earlier period, also beating forecasts of a 5% increase.