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China slides into deflation as consumer, factory prices drop
Credit: IndiaTimes- Published on August 9, 2023
China's consumer and producer prices both declined in July, the first time since November 2020 that both have registered contractions. The consumer price index dropped 0.3% YoY, while producer prices contracted 4.4%, with subdued consumer spending, a slump in the Chinese property market, plunging exports and weakened demand all...
Video credit: Rumble
Published on August 9, 2023 - 01:40
More trouble for China's economy | World Business Watch | WION
For the first time since 2021, both consumer and producer prices have contracted in China, a telltale sign of deflation as demand weakens in the world's second-largest economy. Producer prices fell for a 10th consecutive month, contracting 4.4% in July from a year earlier, slightly worse than expected.
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