According to Jinshi, the National Bureau of Statistics of China stated that in the year-on-year change of CPI in January of -0.8%, the lag effect was about -1.1 percentage points; the new impact of price changes this year was about 0.3 percentage points.
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China's National Bureau of Statistics: The tail effect of the year-on-year change in CPI in January was about -1.1 percentage points
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