China's consumer price index (CPI) rose by 0.2% year on year in January, marking the fourth straight month of growth but at a slower pace than expected. The figure fell short of market forecasts, which predicted a 0.44% rise. In December, the CPI had climbed by 0.8%, the fastest growth in nearly three years. The National Bureau of Statistics reported this data on Wednesday. Dong Lijuan, a senior statistician at the bureau, explained the slower CPI growth was due to the Lunar New Year holiday occurring in February this year instead of January last year. She also pointed to lower global oil prices, which reduced energy costs. Despite the slower headline inflation, core inflation, which excludes volatile food and energy prices, kept rising moderately. The core CPI increased by 0.8% in January, showing consumer demand is recovering. Meanwhile, the decline in factory-gate prices narrowed, suggesting deflationary pressures in China's economy may be easing. However, the overall inflation outlook remains unclear as the economy adjusts to changing conditions.