What it means: China on the verge of consumer deflation

Posted on AllSides July 10th, 2023
From The Left
REUTERS/Tingshu Wang/File Photo

China’s consumer inflation rate flattened to zero last month — sparking fears that the country is on the precipice of deflation.

Producer prices fell at their fastest pace in over seven years in June, according to data published Monday from China’s National Bureau of Statistics — indicating that there is both weak demand abroad and at home.

The worse-than-expected economic indicators may force authorities to release a significant economic stimulus package, which they have so far resisted.

We’ve curated insights on what the latest figures mean for the world’s second largest economy.

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