China's consumer price index rose 0.7% in February compared to the same month last year, turning positive for the first time in six months.
The main reason for this was an increase in travel demand due to the long Lunar New Year holiday, but prices of automobiles and other items continue to fall, and concerns about deflation still smolder.
China's National Bureau of Statistics announced on the 9th that the consumer price index for February increased by 0.7% compared to the same month last year.
This is the first time in six months that China's consumer price index has turned positive, since August last year.
This was mainly due to increased demand for travel during the long Lunar New Year holiday, which caused related prices to rise significantly, and the price of pork, which had been declining, to start rising.
On the other hand, prices
of automobiles, smartphones, etc. continued to fall due to consumers becoming more frugal, and
prices of furniture and home appliances also fell due to sluggish housing sales, and
deflation remains a concern. It's smoldering.
In addition, the February producer price index, which indicates price movements when companies ship products, was also announced, and fell by 2.7% compared to the same month last year, marking the fifth consecutive month of negative growth. Ta.
The Chinese government has announced its policy to support the economy by issuing special government bonds worth 1 trillion yuan, or over 20 trillion yen in Japanese yen, starting this year, and the People's Bank of China has also taken a series of additional monetary easing measures. The focus will be on how far stagnant demand can be stimulated.