China’s factory gate prices fall at fastest pace in 7 years

In June, China witnessed the sharpest decline in factory-gate prices in over seven-and-a-half years, while consumer inflation remained at its slowest pace since 2021.

These economic indicators further strengthen the argument for policymakers to implement additional stimulus measures in order to revive sluggish demand.

The country’s post-pandemic economic recovery has experienced a slowdown after the robust growth observed in the first quarter, primarily due to weakening manufacturing activity and subdued consumer confidence, CNN has reported.

China’s producer price index (PPI) registered its ninth consecutive monthly decline, dropping by 5.4% compared to the previous year.

READ MORE: https://www.cnn.com/2023/07/10/economy/china-prices-june-decline-hnk-intl/index.html

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