The Shenzhen consumer price index (CPI) rose 2.8 percent in February from the same period last year, the latest figures from the municipal statistics bureau show.

It was the first rise in the CPI seen in Shenzhen in a year.

Food prices went up 5.7 percent from a year earlier. Rents rose 2.4 percent. Water, electricity and fuel prices rose 2.9 percent, according to the statistics.

Despite the CPI rise, senior statistician Kong Ailing said immediate inflation was unlikely. Inflation would be evident only after the CPI rose 3 percent for three consecutive quarters, Kong said.

"Shenzhen won't see inflation for at least two quarters. But we have to be prepared for inflation," he said.

One of the reasons the CPI was higher in February was that this year's Spring Festival was in February. In the holiday season, consumers tended to spend more, said Kong.