China slips into deflation, fueling more calls for economic stimulus
China is experiencing deflation for the first time in over two years – yet another sign that Beijing might need to roll out stimulus measures to reboot the country's stuttering economy.
The consumer price index , which measures the cost of the average shopping basket, fell 0.3% year-on-year in July, according to data fromMeanwhile, factory gate prices as measured by the producer price index plunged 4.4% year-on-year last month to log their tenth decline in a row, per the government agency.
It's the first time the CPI has fallen since February 2021 and the first time both indices have fallen in tandem since December 2020. The latest figures fell in-line with forecasters' expectations and confirm that China is suffering fromThat's another economic worry for Beijing, which is also contending with
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