China Consumer Prices Rise for First Time in 6 Months, But Deflation Persists in Production as Economy Faces Growth-Debt Balancing Act

China's consumer prices rose 0.7% year-over-year in February, the first increase in 6 months
The rise was partly due to Lunar New Year holiday spending; analysts say it's too early to say deflation is over
Deflation persisted in producer prices, falling 2.7% year-over-year, indicating soft demand
China set 2023 growth target around 5% and inflation target at 3%, but aims to curb debt risks
Policies to stimulate consumer demand, like trade-in programs for cars and appliances, will be key for growth