Food prices in China have been falling for twelve months

By: Trademagazin Date: 2024. 07. 10. 11:07

In June, the annual inflation in China moderated to a greater extent than expected: according to the Wednesday report of the National Bureau of Statistics, consumer prices rose by 0.2 percent compared to the expected 0.4 percent and the previous month’s 0.3 percent.

June was the fifth month in a row in which price growth was measured on an annual basis, before that there was deflation for four months, at the rate of 0.2-0.8 percent.

Food prices fell for the 12th month, by 2.1 percent in June, after the previous month’s 2.0 percent annual decrease.
Excluding food and energy prices, consumer prices rose by 0.6 percent year-on-year in June, the same as in May.

Compared to the previous month, consumer prices fell by 0.2 percent in June, more than the expected 0.1 percent. In May, the monthly price decrease was 0.1 percent. In June, consumer prices in the country fell for the third month in a row compared to the previous month.