Latest news with #producer deflation
South China Morning Post
2 days ago
- Business
- South China Morning Post
China's consumer prices flat in July, while producer deflation persists
China's consumer prices were unchanged last month from a year ago and producer deflation persisted, suggesting that demand remains weak in the world's second-largest economy amid trade turbulence. Advertisement The national consumer price index (CPI), a key gauge of inflation , was flat in July compared to a year ago, according to data released by the National Bureau of Statistics on Saturday. The reading beat market expectations, as a poll by financial provider Wind had forecast a 0.12 per cent decline for July. In June, the CPI rose by 0.1 per cent, year on year after four straight months of decline. 'Policies to expand domestic demand showed results in July, resulting in a 0.4 per cent rise in CPI from June,' said Dong Lijuan, a senior statistician at the bureau. China is grappling with persistent deflationary pressures , driven by a dual challenge of sluggish domestic demand and oversupply, with trade uncertainty hindering suppliers' ability to clear excess inventory. Advertisement In July, consumer goods prices declined by 0.4 per cent from a year earlier, while service prices rose by 0.5 per cent, according to the statistics bureau. Food prices fell by 1.6 per cent. Prices for other goods and services as well as clothing increased by 8 per cent and 1.7 per cent, respectively, while housing saw a rise of 0.1 per cent.
Reuters
3 days ago
- Business
- Reuters
China's consumer prices flat in July
BEIJING, Aug 9 (Reuters) - China's consumer prices were unchanged in July while producer deflation persisted, as consumer and business morale took a hit from weak domestic demand and trade uncertainty. The consumer price index was 0.0% last month versus a year earlier, compared with a 0.1% rise in June, National Bureau of Statistics data showed on Saturday, beating a Reuters poll forecast for a 0.1% slide. The CPI edged up 0.4% month-on-month, against a 0.1% drop in June and above an expected 0.3% rise. A 3.6% decline in the producer price index in July on year missed economists' forecast of a 3.3% slide. It fell 3.6% in June too.
