Shenzhen's consumer price index (CPI) rose 4.8 percent in February from a year earlier thanks to stronger consumer demand during the Spring Festival.
The index was 1.6 percent higher than in January.
The National Bureau of Statistics Shenzhen investigation team said the CPI figure remained high because food prices kept rising.
Food prices rose 10.3 percent in Shenzhen last month with grain prices climbing 14.2 percent, cooking oil prices up 15.3 percent, the prices of meat and meat products 10.7 percent, egg prices 30.4 percent and the prices of aquatic products up 10.3 percent. The investigation team suggested the city government increase subsidies to low-income families to cope with the higher food prices.
Other factors contributing to the rise of CPI in February included prices of cigarettes and wine (2.4 percent), clothing prices (2.3 percent), prices of medicare and daily necessities (5.2 percent) and housing prices (5.7 percent).
The city s CPI rose 5 percent in the first two months compared with the same period last year, far higher than the targeted goal of keeping the CPI at around 4 percent for this year.
Experts expect the CPI figure to gradually fall from June.
(SD News)
