China Feb CPI up 8.7 pct on Year Ago, 11-Year High

China's annual consumer price inflation surged to 8.7 percent in February, the highest level in more than 11 years.

China's annual consumer price inflation surged to 8.7 percent in February, the highest level in more than 11 years, from 7.1 percent in January, the National Bureau of Statistics said on Tuesday.

Economists polled by Reuters had expected an inflation rate of 8.0 percent.

Inflation was last higher in May 1996, when the rate was 8.9 percent.

Food prices, which make up a third of the consumer basket, rose 23.3 percent in February from a year earlier, compared with an increase of 18.2 percent in the 12 months to January.

Non-food prices rose 1.6 percent in February from a year earlier, a touch quicker than January's 1.5 percent rate.

(Percent change from a year earlier): Feb Jan Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb 8.7 7.1 6.5 6.9 6.5 6.2 6.5 5.6 4.4 3.4 3.0 3.3 2.7