Inflation Ticks Up as CPI Rebounds and Core CPI Hits 1-Year High

• CPI up 0.7% year-on-year in February, reversing 0.8% decline in January • Monthly CPI rose 1% in February • Core CPI increased 1.2% year-on-year, the highest since February 2022
• PPI fell 0.2% month-on-month and 2.7% year-on-year in February • Industrial sector entered seasonal lull in February, exacerbated by Spring Festival holiday