Diamond Member Pelican Press 0 Posted May 11, 2024 Diamond Member Share Posted May 11, 2024 China’s consumer prices rise for 3rd month, factory deflation persists Citizens are shopping at a supermarket in Nanjing, East China’s Jiangsu province, on March 9, 2024. Costfoto | Nurphoto | Getty Images China’s consumer prices rose in April for a third straight month, while producer prices extended declines, suggesting resilient domestic demand, despite a shaky economic recovery. The closely watched numbers follow official surveys showing cooling factory and services activity, as concerns rise about economic growth losing momentum, weighed down by a protracted housing downturn, boosting the case for more policy support. The consumer price index (CPI) edged up 0.3% in April from a year earlier, accelerating from a rise of 0.1% in March, data from the National Bureau of Statistics (NBS) showed on Saturday. That was above a rise of 0.2% forecast in a Reuters poll. CPI rose 0.1% from the previous month, reversing a drop of 1% in March and above a decline of 0.1% predicted by economists. The producer price index (PPI) dropped 2.5% in April from a year earlier, easing from a slide of 2.8% the previous month and compared with a forecast decline of 2.3%. Domestic housing demand ******** soft, with average daily home sales having slumped 47% over the Labour Day holiday from 2023 levels, while jobless fears linger, notably among young people. Core inflation, excluding volatile food and fuel prices, grew 0.7% in April, up from 0.6% in March. China will use policy tools, such as banks’ reserve requirement ratio (RRR) and interest rates, in a flexible way to step up support for the economy, the Politburo, a top-decision making body of the ruling ********** Party, said in late April. This is the hidden content, please Sign In or Sign Up Asia Economy,business news #Chinas #consumer #prices #rise #3rd #month #factory #deflation #persists This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/30033-china%E2%80%99s-consumer-prices-rise-for-3rd-month-factory-deflation-persists/ Share on other sites More sharing options...
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