China's annual inflation rate hit 4.5 percent in January, the highest level in three months, official data showed Thursday, as the Chinese Lunar New Year holiday boosted consumer prices.

The country's consumer price index had slowed to 4.1 percent in December as government efforts to curb bank lending and surging property prices took effect.

Analysts said the Chinese New Year holiday, also known as the Spring Festival, was unusually early this year and had distorted the monthly data.

Retail spending typically soars during the festival, the most important celebration in the Chinese calendar, as consumers splash out on food and gifts for family and friends.

Before January, inflation had eased for five straight months after hitting a more than three year high of 6.5 percent in July and analysts said the downward trend would likely resume in February.

"It was inevitable that we would see some impact of the Lunar New Year holidays, which were in January this year but February last year, but it seems that this impact was bigger than expected," said Brian Jackson, a senior analyst at Royal Bank of Canada in Hong Kong.

Analysts had expected inflation to rise 4.1 percent, according to a Dow Jones Newswires survey.