Consumer price inflation data shows prices fell by 0.3% year-on-year in July
Chinese consumer prices slipped into deflation last month for the first time in more than two years, official data showed, as slowing domestic spending weighed on the country’s post-Covid economic recovery.
The Consumer Price Index, the main gauge of inflation, fell 0.3 points in July, the National Bureau of Statistics said, having flatlined in June. A survey of analysts had anticipated a 0.4 percent year-on-year decline.