China's consumer price index last month fell by 0.8% compared to the same month last year, marking the fourth consecutive month of negative growth. The rate of decline is the largest since September 2009, when the effects of the Lehman shock remained, and concerns about deflation are growing even more.
Last month's consumer price index, announced by China's National Bureau of Statistics on the 8th, fell by 0.8% compared to the same month last year.
This is the fourth consecutive month that China's consumer price index has been negative, and the rate of decline was the largest in 14 years and four months since September 2009, when the effects of the Lehman shock remained.
In addition to falling prices of foods such as pork, prices of cars and smartphones also fell due to consumers' frugality.
Additionally, as housing sales slumped, the prices of furniture and home appliances also fell, pushing down prices.
On the other hand, last month's producer price index, which was also announced and shows price movements when companies ship products, fell by 2.5% compared to the same month last year, marking the fourth consecutive month of negative growth. Ta.
The Chinese government has said that it aims to expand domestic demand, which has continued to stagnate, through fiscal policy and other measures, but as concerns about deflation continue to grow, the focus will be on how effective the measures can be.