KONTAN.CO.ID - BEIJING. China's consumer prices posted their first annual decline in more than two years in July, while factory gate prices extended their falls, data showed on Wednesday, as lacklustre demand weighed on the economy. The consumer price index (CPI) for the month dropped 0.3% year-on-year, the National Bureau of Statistics (NBS) said, a slightly slower fall than the median estimate for a 0.4% decrease in a Reuters poll. It was the first year-on-year decline since February 2021. CPI was unchanged in June. The producer price index (PPI) fell for a 10th consecutive month, down 4.4% from a year earlier after a 5.4% drop the previous month. That compared with a forecast for a 4.1% fall.
China's Consumer Prices Swing Into Decline as Deflation Risks Build
KONTAN.CO.ID - BEIJING. China's consumer prices posted their first annual decline in more than two years in July, while factory gate prices extended their falls, data showed on Wednesday, as lacklustre demand weighed on the economy. The consumer price index (CPI) for the month dropped 0.3% year-on-year, the National Bureau of Statistics (NBS) said, a slightly slower fall than the median estimate for a 0.4% decrease in a Reuters poll. It was the first year-on-year decline since February 2021. CPI was unchanged in June. The producer price index (PPI) fell for a 10th consecutive month, down 4.4% from a year earlier after a 5.4% drop the previous month. That compared with a forecast for a 4.1% fall.