China Food Prices Rise The Most in Three Months, as Transport Inflation Falls

China’s consumer inflation unexpectantly dropped by 0.3 percent year-on-year in January 2021, from 0.2 percent the previous month and compared with market consensus of unchanged. The decline was primarily due to a fall in the cost of transport (-4.6% vs -3.1%) and rent, fuel, and utilities (-0.4% vs -0.6%). However food prices went up 1.6 percent, the most in three months