China's producer prices sank more than expected, official data showed Monday, underscoring the challenges for the country in revitalizing growth momentum.
Official data showed Inflation in China lingered at weak levels in June 2023, underscoring the challenges that beset the world's second-largest economy in revitalizing growth momentum.China's producer prices sank more than expected, official data showed Monday, underscoring the challenges that beset the world's second-largest economy in revitalizing growth momentum.
Producer prices sank 5.4% in June from a year earlier, according to China's National Bureau of Statistics. This was weaker than a Reuters poll that had expected a 5.0% decline, compared with the 4.6% decline in May. Annual consumer price inflation was flat in June, weaker than expectations for a 0.2% rise in a Reuters poll and the 0.2% rise in May. Monthly consumer price inflation in June was weaker 0.2%, weaker than expectations for flat growth and the 0.2% decline in May.
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