Chinese Rebound in Consumer Prices Masks Deflationary Risk Ahead

China’s consumer-price growth accelerated last month thanks largely to higher food costs, as deflationary risks stalk the world’s second-biggest economy in the absence of more forceful stimulus measures.

A late-year burst of holiday spending also helped the consumer-price index rise the most since February 2023, with growth in December matching forecasts and reaching 0.8% from the same period in 2024. For the full calendar year, inflation was zero, the lowest since 2009, according to data released by the National Bureau of Statistics on Friday.

Producer prices slipped slightly less than forecast and fell 1.9% — their 39th straight month ...