Beijing's CPI rose 3.9% year-on-year in Jan, Feb

In the first two months of the year, Beijing's Consumer Price Index, a main gauge of inflation, rose 3.9 percent year-on-year, according to the National Bureau of Statistics.

In Feb, the CPI rose to 4.6 percent month-on-month.

Driven by the surge in housing transactions in the last two months, Beijing's real estate investments also rose. A total of 2.86 million square meters of new-home floor space was started in the first two months, an 85.7 percent increase over the same period last year.

Sales of new homes in Beijing doubled to 1.68 million sq m in the first two months.