Posted on 02/08/2024 5:11:58 AM PST by FarCenter
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January's 0.8 percent drop in the consumer price index, announced by the National Bureau of Statistics, marked the fourth straight month of deflation and was much bigger than the 0.5 percent fall forecast in a survey by Bloomberg News.
The reading was the worst since the second half of 2009, during the global financial crisis.
And a 2.5 percent plunge in the producer price index -- which measures the cost of goods leaving factories -- signalled continued weakness.
China slipped into deflation in July for the first time since 2021 and, apart from a brief rebound in August, have been in constant decline since.
"The primary drag on inflation continued to be food prices, which fell by 5.9 percent year-on-year, the lowest level on record," said Lynn Song, Chief Economist for Greater China at bank ING.
(Excerpt) Read more at france24.com ...
Just a rational person.
Just a rational person.
—
Self-diagnosis?
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