China’s consumer price index (CPI) rose to a three-month high of 4.5 percent in January, the National Bureau of Statistics (NBS) released on its website on Thursday. The figure is 0.4 percentage points higher than December’s growth and increased faster than the prediction of a 4.2 percent growth. Food prices jumped 10.5 percent year-on-year, driving the CPI up to 3.29 percentage points, the NBS showed. The surge is mainly boosted by consumption before Chinese Lunar New Year holidays said Peng Wensheng, the chief economist with China International Capital Corporation. “But the inflation pressure is expected to ease this year, with an annual CPI forecast of 3.5 percent.”

The higher inflation also quashes the debate about China hard landing as prices continue to stagnate at higher levels.