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China consumer prices slump again, deepening deflation worries as demand stays weak
- In May, China's consumer prices decreased by 0.1 percent compared to the same month last year, marking the fourth month in a row that the index has declined, as reported on Monday.
- This persistent deflation stems from sluggish domestic demand, oversupply issues, and ongoing trade uncertainty amid upcoming China-US talks in London on Monday.
- Despite the overall CPI decline, some sectors showed improvement as supply-demand relationships strengthened, with hotel room prices rising 4.6 percent in May due to tourism growth.
- Chief statistician Dong Lijuan attributed the CPI drop mainly to lower energy prices, while producer prices fell 3.3 percent year on year, exceeding the 3.2 percent expectations.
- The data signals challenges for China's growth targets and suggests further domestic stimulus and liquidity easing may be necessary to counteract deflation ahead of trade negotiations.
52 Articles
52 Articles
The second-hand segment in particular is booming and shows a new price awareness of the crisis-stricken middle class. In Beijing, people are already afraid of a price decline on a broad front.
"Too Much Competition": From Starbucks to Cars, in China Prices Collapse. And the Government: "Rise"
For the fourth month in a row, Beijing suffers from deflation. A downward war of the tags that hurts the economy, also weighed down by the data on exports
China, the world's second-largest economy, is struggling to escape a slump in prices, or deflation. Low consumer confidence in the economy continued in May, with consumer prices falling 0.1 percent year-on-year. The drop in prices was the fourth consecutive month. Beijing is also facing a new problem in the form of declining exports, which slowed sharply in May.
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