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Prices of consumer goods in China rose at a slower pace in January

  • Consumer inflation in China came in at 1.5 percent in January, in line with economists' forecasts, data by the National Bureau of Statistics showed Friday.
  • The country's producer price index rose 4.3 percent, also in line with expectations.
Visitors to Tianzifang, a popular shopping and cafe enclave in the French Concession area of Shanghai.
Yen Nee Lee | CNBC
Visitors to Tianzifang, a popular shopping and cafe enclave in the French Concession area of Shanghai.

China's consumer inflation cooled to 1.5 percent in January, in line with economists' forecasts, official data showed on Friday.

The consumer price index (CPI) had been expected to moderate from a 1.8 percent gain in December.

The producer price index (PPI) rose 4.3 percent from a year earlier, also cooling from the previous month's rise of 4.9 percent, the National Bureau of Statistics (NBS) said on its website.

Analysts polled by Reuters had predicted producer inflation would ease to 4.4 percent in January.

Sources have told Reuters that China's government will maintain a 3 percent consumer inflation target for 2018, suggesting policymakers are not foreseeing any sharp price rises.