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This is mostly because of seasonality. Chinese new year in 2023 was in January. In 2024 it is in February. Price always rises the biggest in Chinese new year because people tend to consume not produce during the period. Thus Jan YoY will be unusually lower, while Feb YoY will be higher in 2024.

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So fastest in 15 years means...this plunge isn't special from other plunges after CNY starts because there is something special about this cycle?

"fastest pace in 15 years in January",

This is year on year data, so its being compared to Januaries in previous years not every month in previous years.

But there are have been multiple February CNYs in the last 15 years, I'm pretty sure of it.

you’re correct. 9 of the last 15 years: 2022, 21, 19, 18, 16, 15, 13, 11, 10.

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