Mubasher: China’s inflation rate accelerated more than expected in February, marking its highest level since November 2013, while producer prices growth slowed during the month.

Consumer Price Index (CPI) rose 2.9% last month, compared with a 1.5% increase in January, data by the country’s National Bureau of Statistics (NBS) showed on Friday.

Economists had expected a slighter inflation rise of 2.5% during February.

Meanwhile, Producer Price Index (PPI) expanded by 3.7% in February, down from 4.3% in the previous month, and versus analysts’ forecasts of a 3.8% growth.

By 09:28 am GMT, the USD/CNY pair slipped 0.15% to 6.3329.