China's consumer prices grew less than expected in January to hit its lowest pace in more than five years, latest government data released on Tuesday showed.

According to the National Bureau of Statistics, the country's consumer price index climbed 0.8 percent last month from a year ago, easing from a 1.5% rise in December and missing consensus of economists for a 1 percent growth.

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The growth rate was the weakest since November 2009, the time that the world fell into a financial crisis, when consumer price went up an annual 0.6 percent.  

Economists attributed the consumer-price drop to declining commodity prices, unusually warm weather and continued weak demand.

One economist said the inflation number in January is bad news for China's economy because it underscores the reading of the deflationary drag on the economy.

The lower-than-expected growth of China's consumer price also further adds up to proof that the country's economy is still weak, prompting calls for authorities to consider more stimulus action.

Also in January, exports and imports slumped by a wide margin while the official Purchasing Managers' Index pointed to a contraction in activity.

China's economy grew by 7.4 percent on year in 2014, its slowest pace in nearly a quarter century.

Meanwhile, ahead of the expected rise in cash demand before the Lunar New Year, the People's Bank of China (PBOC), the country's central bank, pumped 80 billion Chinese yuan (about US $13.05 billion) into the money markets, the official Xinhua news agency reported.

The cash injection was made through 14-day and 21-day reverse repos, with yields of 4.1 percent and 4.4 percent, respectively, the central bank said in a statement posted on its website.

The cash injection was part of the central bank's effort to meeting rising cash demand during the Lunar New Year holiday because of travel expenses and holiday shopping.

The country's financial markets and business operations are also closed from 18 February to 24 February.

TagsChina Inflation