In August, China's consumer price index rises by 0.6%, falling short of predictions.

In August, China's consumer price index rises by 0.6%, falling short of predictions.
In August, China's consumer price index rises by 0.6%, falling short of predictions.

The consumer price index in China increased by 0.6% annually on Monday, according to a report.

According to a Reuters poll, the consumer price index was predicted to increase by 0.7% annually in August.

Since the pandemic, China's consumer prices have remained low due to weak domestic demand.

Yi Gang, China's former central bank head, stated at a conference on Friday that the country must prioritize "countering the deflationary pressure." He predicted that the consumer price index would slightly surpass zero by the year's end.

Industrial data for August will be released on Saturday, along with retail sales figures for July which showed a modest increase of 2.7%.

This is a breaking news story. Please check back for updates.

by Evelyn Cheng

China Economy

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