Consumer prices in China have plunged to their lowest level in more than a year, highlighting persistent deflationary pressures in the world’s second-largest economy.

China's consumer price index in February missed expectations and fell at the sharpest pace in 13 months, while producer price deflation persisted, as seasonal demand faded and households remained cautious about spending amid job and income worries.

Consumer prices in China fell last month for the first time in a year, with authorities in the world's second-largest economy struggling to kickstart spending and trade headwinds intensifying as