China slides into deflation in potentially worrying sign for global economy
https://www.foxbusiness.com/economy/china-slides-deflation-potentially-worrying-sign-global-economyWhile many countries in the post-pandemic era have been grappling with higher consumer prices, China is dealing with the opposite problem as policymakers struggle to revive demand both at home and abroad.
The National Bureau of Statistics said Wednesday that the consumer price index (CPI) dropped 0.3% year-on-year last month — the first decline since February 2021.
The producer price index (PPI), meanwhile, declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall.
The data comes a day after trade figures showed exports and imports both slumping in July and follows a spate of reports on more debt troubles in China's giant property sector.
Deflation has come to China. This could have worldwide implications.
