© Reuters. Customers store for grocery at a morning market in Beijing, China August 9, 2023. REUTERS/Tingshu Wang/file photograph
BEIJING (Reuters) – China’s consumer prices returned to constructive territory in August whereas factory-gate value declines slowed, knowledge confirmed on Saturday, as deflationary pressures eased amid indicators of stabilisation within the economic system.
The consumer value index (CPI) rose 0.1% in August from a 12 months earlier, the National Bureau of Statistics stated, slower than the median estimate for a 0.2% enhance in a Reuters ballot. CPI fell 0.3% year-on-year in July.
The producer value index (PPI) fell 3.0% from a 12 months earlier – consistent with expectations – after a drop of 4.4% in July.
The authorities has rolled out a raft of coverage measures in latest weeks to spur financial development and fend off deflation pressures.
