Due to rising food prices during the Spring Festival holiday (February 9-15), China's annual consumer inflation rate rebounded to a 10-month high of 3.2 percent in February, according to the National Bureau of Statistics (NBS).

CPI rose 1.1 percent in February, according to the NBS.

Food prices, which account for nearly one third of the weighting in China's CPI, remained a key driver of inflation in February, as the Spring Festival pushed up demand. Food prices jumped 6 percent in February, pushing the CPI up by 1.98 percentage points.

Considering the holiday effect and the increase of fuel prices in February, the rebound is largely in line with market expectations. However, the upward trend is unlikely to continue as the holiday effect fades and warmer weather starts to bolster food supplies, said Yu Qiumei, a statistician with the NBS, suggesting CPI growth will ease in March.

February's producer price index (PPI), which measures inflation at the wholesale level, fell 1.6 percent year on year, said the NBS. The drop marked the 12th straight month of decline after the PPI dropped in March 2012 for the first time since December 2009. On a monthly basis, the PPI gained 0.2 percent, the NBS data showed.