Food prices are falling at an accelerating rate in China

By: Trademagazin Date: 2023. 10. 13. 10:21

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In September, consumer prices in China stagnated on average at the same level as a year earlier, but the fall in food prices accelerated, according to a Friday report by Beijing’s central statistical office, NBS.

Analysts expected a 0.2 percent increase in Chinese consumer prices for September, following a 0.1 percent rise in the previous month. The decline in food prices accelerated, falling by 3.2 percent from a year earlier after the 1.7 percent annual decrease in August. Meanwhile, the annual price increase of non-food items rose to 0.7 percent from 0.5 percent in the previous month.