China’s deflation pressures ease as consumer prices rise - FT中文网
登录×
电子邮件/用户名
密码
记住我
请输入邮箱和密码进行绑定操作:
请输入手机号码,通过短信验证(目前仅支持中国大陆地区的手机号):
请您阅读我们的用户注册协议隐私权保护政策,点击下方按钮即视为您接受。
FT商学院

China’s deflation pressures ease as consumer prices rise

August CPI edges into positive territory, but producer prices continue to fall

China’s economy edged out of deflation in August, as Beijing struggles to promote growth and revive investor confidence following a slide in the country’s property market and a plunge in exports.

The consumer prices index was 0.1 per cent higher year on year in August, below a Reuters poll of analysts for a 0.2 per cent increase, but emerging from the negative territory of minus 0.3 per cent recorded in July.

The producer prices index, meanwhile, fell by 3 per cent year on year, in line with analyst expectations and underlining continuing weakness in the industrial sector. But the fall was less severe than July’s 4.4 per cent fall. Producer prices were also a fraction of a per cent higher month on month.

China’s National Bureau of Statistics said on Saturday the consumer prices index had on average increased 0.5 per cent in the first eight months of the year compared with the same period in 2022.

The sustained weakness in inflation in the world’s second-largest economy comes as Beijing has launched a wave of measures to try to boost demand, which has faltered since China emerged from crushing Covid lockdowns last year.

The country’s property market, which accounts for about a quarter of economic activity, remains on life support with large private sector developers suffering a liquidity crunch and buyers reluctant to venture into the market.

Policymakers have cut mortgage rates and relaxed stringent requirements for loans but analysts have described the measures as “piecemeal” and have called for more fiscal stimulus to boost demand.

A central problem for Beijing is that the weakness in the domestic economy has coincided with a plunge in the country’s exports, as inflation in the west suppresses consumption.

China’s statistics bureau said food prices dropped by 1.7 per cent in August compared with a year earlier and non-food prices increased by 0.5 per cent. Consumer goods prices dropped by 0.7 per cent and service prices increased by 1.3 per cent.

Among the items in the producer prices index, building materials and non-metals prices fell 6 per cent while ferrous metal materials fell 5.6 per cent.

China’s disappointing growth and falling exports have sparked foreign investor outflows from its stock markets and contributed to a weakening of the renminbi to lows against the dollar not seen since 2007.

China’s exports dropped 8.8 per cent in August compared with a year ago, according to figures released this week, but the contraction was marginally less severe than analysts expected.

It was also an improvement on July’s 14.5 per cent decline, the worst since the start of the coronavirus pandemic.

版权声明:本文版权归FT中文网所有,未经允许任何单位或个人不得转载,复制或以任何其他方式使用本文全部或部分,侵权必究。

Lex专栏:特朗普动动嘴就能掀起加密货币热潮

投资者相信特朗普重返白宫将对加密货币有利,而他在实际政策方面的不可预测性并不重要。

巴菲特出售苹果股票,累积大量现金,引发人们对其动机的猜测

伯克希尔哈撒韦公司通过平仓最赚钱的交易填满了金库,投资者对此提出质疑 。

马斯克或成华尔街的“大白鲸”

美国大选和特斯拉老板地位的提升可能带来大笔交易费用。成为特斯拉最得力顾问的竞争已经开始。
10小时前

Lex专栏:亚洲将遭遇“特朗普交易”的冲击

汽车行业保护主义抬头的定价过程才刚刚开始。

马斯克对特朗普的押注得到了回报

特斯拉和X的首席执行官将成为特朗普总统身边最具影响力的政治和商业顾问之一。
设置字号×
最小
较小
默认
较大
最大
分享×