China's consumer sector entered a deflation phase of prices, with producer prices continuing to slide in July as the world's second-largest economy struggles to revive demand, amid mounting pressure on Beijing to take more direct stimulus measures.
According to the National Bureau of Statistics, the consumer price index fell 0.3 percent year-on-year in July, compared with a median estimate of a 0.4 percent decline in a Reuter poll. This is the first decline for the index since February 2021.
After zero inflation a month ago, analysts polled by Bloomberg expected prices to decline, but by a larger 0.4 percent.
Source (Al-Arab Newspaper of London, Edited)
