Post by sevenofnine on Aug 9, 2023 11:04:27 GMT -5
WOW!
China has officially slipped into deflation for the first time in two years as the country struggles with post-pandemic recovery, data reflected on Wednesday.
The consumer price index (CPI), the main gauge of inflation, dropped 0.3% year-on-year in July, after flatlining in June, said the National Bureau of Statistics (NBS).
The product price index (PPI) plunged for the tenth consecutive month down 4.4% from a year earlier after a 5.4% drop in June.
www.dw.com/en/china-slips-into-deflation-as-post-covid-recovery-stalls/a-66478163
China has officially slipped into deflation for the first time in two years as the country struggles with post-pandemic recovery, data reflected on Wednesday.
The consumer price index (CPI), the main gauge of inflation, dropped 0.3% year-on-year in July, after flatlining in June, said the National Bureau of Statistics (NBS).
The product price index (PPI) plunged for the tenth consecutive month down 4.4% from a year earlier after a 5.4% drop in June.
www.dw.com/en/china-slips-into-deflation-as-post-covid-recovery-stalls/a-66478163
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