China's annual consumer price inflation accelerated to a 34-month high in December, driven by rising food prices, but the full-year rate slumped to the lowest in 16 years while producer deflation persisted, indicating persistent softness in demand. The December consumer price index (CPI) rose 0.8% from the same month in 2024, National Bureau of Statistics (NBS) data showed on Friday, matching expectations in a Reuters poll and perking up from the 0.7% increase in November.