Mar.14 - China's consumer price index (CPI), a major inflation indicator, rose by 2.7 percent in February compared to the same month last year, according to a National Bureau of Statistics (NBS) report on Tuesday.

 

The growth rate up 0.5 percentage points higher than that of the previous month.

 

According the NBS, this is the third consecutive month China's CPI has risen by more than two percent.

 

China's CPI rose 2.8 percent last December and 2.2 percent in January.

 

China's goal is to limit the rise in the CPI in 2007 to under three percent.

 

Consumer spending during February's Spring Festival is partly responsible for the rise in the CPI, said experts.

 

According to the NBS, food prices rose by 6 percent in February compared to the same month last year, while grain price were up 6.8 percent and cooking oil prices jumped 17.4 percent.

 

The cost of renting an apartment rose by 4.4 percent in February while the cost of telecommunications dropped 18.4 percent, and transportation, dipped 1.7 percent.

 

China's CPI grew by 1.5 percent in 2006 over the previous year. The growth rate was 0.3 percentage points lower than the previous year, according to the NBS.