Hey there, curious minds! 📢 Ever wondered what's happening with prices over in China? Well, here's the lowdown! China's consumer prices have fallen for the fourth month in a row this January. Yup, you read that right!
According to the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which is basically a fancy term for inflation, dipped by 0.8% compared to last year. But hold on! On a month-to-month basis, the CPI actually went up by 0.3%. 📈 Crazy, right?
So, what's causing this rollercoaster? The NBS says the year-on-year drop is mainly because prices were super high last year. But the slight bump this month? That's thanks to everyone getting ready for the Spring Festival! 🎉 People are shopping more, and that pushes prices up a bit.
Now, onto the Producer Price Index (PPI), which measures how much factories are charging for their goods. It fell by 2.5% compared to last year but only dipped by 0.2% compared to last month. The NBS mentions that international commodity prices are playing a big role here.
But it's not all dips and drops! Bruce Pang, the chief economist at JLL Greater China, believes things are looking up. 🌤️ He predicts that inflation rates will normalize in the mid-term and that China's economy will keep improving in the long run.
\"From a full-year perspective, China's CPI will rebound moderately, while the PPI is expected to turn from negative to positive,\" Pang told CGTN. Sounds promising, doesn't it?
So, what's the takeaway? China's economy is dynamic and ever-changing. Whether you're into economics, planning to travel, or just love staying informed, it's always cool to know what's happening on the other side of the world! 🌏
Reference(s):
cgtn.com
