PT Solid Gold Berjangka | China Consumer Prices Eke Out Gain as Deflation Pressure Lingers
ekonomi China CPI y/y PPI y/y (CHN) PT SGB Solid Gold Berjangka Solid Group SG Berjangka
Solid Gold Berjangka | China’s consumer prices eked out another small gain in June, hovering near zero for a fifth month, a sign that deflationary pressures continue to impede an economic recovery.The consumer price index rose 0.2% from a year earlier, the National Bureau of Statistics said Wednesday. That compares with an increase of 0.3% in May and a median forecast of 0.4% in a Bloomberg survey of economists.
Factory-gate prices remained stuck in deflation, as they’ve been since late 2022, with the producer price index sliding 0.8% from a year earlier. Economists surveyed by Bloomberg had expected a 0.8% drop after the index declined 1.4% in May.China’s economic recovery has been uneven this year, with manufacturing at times a bright spot while consumption has been hampered by a prolonged real estate slump and a weak job market.
Investors are looking to a key policy meeting of the ruling Communist Party next week for clues on Beijing’s long-term plans for addressing a broad range of issues. Second quarter GDP data comes on Monday.
The risks from deflation are serious for China, potentially leading to a downward spiral with people holding off on purchases due to expectations prices would continue falling. That would dent overall consumption and spill over to businesses.
Economists surveyed by Bloomberg forecast consumer prices to increase by 0.6% this year, a far cry from the 3% official target.
Source : Bloomberg