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China consumer inflation slows on weak demand NHK

Consumer prices in China barely rose in December year-on-year as weak demand continued to fuel deflationary pressure.

National Bureau of Statistics figures show the consumer price index edged up just 0.1 percent for the month, slowing from the 0.2 percent increase in November.

Higher food and clothing prices were the main contributors.

Car dealers knocked down prices in a bid to lure increasingly budget-conscious consumers.

And retailers discounted furniture and household appliances to compensate for stagnant housing sales.

Across 2024 as a whole, prices ticked up by just 0.2 percent, the same result as 2023, making it the equal lowest rise since 2009.

Meanwhile, in December the producer price index slid 2.3 percent year-on-year.

China's Communist Party has pledged to shore up the economy with further monetary easing and aggressive fiscal spending.

Officials have already implemented a suite of measures to tackle the prolonged housing downturn.
Summary
In December 20XX, Chinese consumer prices rose marginally by 0.1% year-on-year due to weak demand. The National Bureau of Statistics reported this slowdown from a 0.2% increase in November. Key drivers were higher food and clothing prices. Car dealers lowered prices, while retailers discounted
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ID: e1f96a23-a42e-4665-8148-549c53504cc6

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20250109_B06/

Created: 2025/01/10 07:00

Updated: 2025/12/08 07:14

Last Read: 2025/01/10 07:41