Consumer prices fell in China in February and remain flat in a slow economy

Beijing – Consumer prices fell in China in February for the first time in 13 months, such as persistent poor demand was complex in time Lunar New Year holiday.

The National Statistical Office said on Sunday that the consumer price index fell 0.7% in February compared to the year a year ago. On a monthly basis, prices have been reduced 0.2% since January.

While many other countries fight inflation, Chinese policy makers Face flat to falling priceAnd the ability to develop into a deflationary spiral that would withdraw economy. The government emphasized the need to increase domestic demand and consumer consumption in Annual Report Last week to his ceremonial legislative, the National Congress of People, but kept on the discovery of any dramatic new steps to reinforce the economy.

Lunar New Year, time when it is spent outputs for traveling, dining and entertainment, it occurred at the end of January this year instead of February, because it is based on the cycles of the moon. The rest consumption has helped the power of the consumer price index in January, but then dropped last month in relation to elevated level 2024. Years.

By publishing the influence of rest, the index increased by 0.1% last month, Dong Lijuan, a statistician in the Government Statistical Bureau, said in written analysis.

It’s still far away than the ideal. Last week, the Government’s annual report included the goal of 2% inflation for this year, but likely to fall far shorter that goal. The consumer price index was an apartment 2024. year, an increase of 0.2%.

A Burgen Trade War I can add to Chinese economic shields with the United States.

In addition to the Early Lunar New Year, two other factors contributed to the price of prices in February: Better Times Grilled agricultural production, the price of fresh vegetables and cars also intensified in order to try to increase sales, reducing prices for new cars.

The producer price index, which measures the wholesale price of the goods, fell by 2.2% in February, said for statistics. Producer prices decline more than consumer prices, putting pressure on companies to reduce work and other costs.