HONG KONG—Inflationary pressures in the world’s second-largest economy eased more than expected in February after a post-reopening spike, a sign of the limited boost from the lifting of strict “zero Covid” curbs for domestic demand.

Consumer prices gained 1% in February compared with a year earlier, slower than the 2.1% increase recorded in January, led by a deceleration in food-price increases, China’s National Bureau of Statistics said Thursday. The result also undershot by a wide margin the 1.7% increase anticipated by economists polled by The Wall Street Journal and was the lowest reading since the 0.9% gain recorded in February 2022.

China’s Inflation Rate Slows to One-Year Low, Casting Doubt on Recovery

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