China Consumer Prices Fall Third Month Amid Trade Tariffs
China Consumer Prices Fall Third Month Amid Trade Tariffs

China Consumer Prices Fall Third Month Amid Trade Tariffs

News summary

China's consumer prices fell for the third consecutive month in April, with the consumer price index (CPI) declining 0.1% year-on-year, reflecting ongoing deflationary pressures amid a challenging economic environment. The producer price index (PPI), measuring factory gate costs, also dropped 2.7% in April, marking the steepest decline in six months. These trends are being driven by factors including a prolonged housing market downturn, high household debt, job insecurity, and the impact of high tariffs from the US-China trade war, which continues to stifle trade and weigh on exports. Despite a slight month-on-month rise in consumer prices, overall consumer and producer prices remain subdued, leading to cautious monetary policy considerations to boost domestic demand. There is some optimism for easing tensions as US-China trade talks commence in Switzerland, but economic forecasts have been downgraded, with major banks now projecting GDP growth below China's official target. Retail giants are shifting focus to the domestic market to counteract export challenges, though consumer confidence remains subdued due to the uncertain outlook.

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