Beijing: China said on Saturday May 10 that consumer prices fell in April for the third consecutive month, reflecting persistent challenges while leaders are trying to revive an economy thwarted by slow expenses and a fierce trade war with Washington.
The second world economy has faced persistent deflationary pressure in recent years, with long -standing misfortunes in the real estate sector and exporting opposite winds hindering growth.
The latest figures before Saturday start Meeting of the main economic managers From China and the United States in Switzerland, offering a potential discrepancy for the high challenges in high issues launched by President Donald Trump.
The American prices on imports from the manufacturing power are now 145% for many products – and reach up to 245% cumulatively on others.
Trump suggested on Friday that prices could be reduced to 80%, although Beijing demanded a complete cancellation of the withdrawals that aggravate other challenges the Chinese economy is faced.
The consumer price index (ICC) – A key inflation measure – fell 0.1% last month in annual shift, according to data published on Saturday by the National Bureau of Statistics (NBS), after previous decreases in February and March.
Reading was in accordance with a Bloomberg forecast of a 0.1% drop in annual shift based on economists' survey, and in accordance with the slight decrease recorded in March.
The NBS statistician, Dong Lijuan, said on Saturday in a data statement that “international imported factors have a certain downward impact on prices in certain industries”.
The NBS also announced on Saturday that the producer's price index (PPI) of April decreased by 2.7% in annual shift, passing by the 2.5% drop in March.
China's PPI – Another inflation indicator – has remained in the last months mired in negative territory, and the drop recorded on Saturday was in line with expectations.
“Changes in the international commercial environment and a rapid drop in certain international bulk products have affected the drop in prices for related national industries,” said Dong.
Chinese exports increased last month despite the trade war, official data showed an unexpected development attributed by experts to a reaches for trade in Southeast Asia to mitigate American rates on Friday.
Chinese customs office trade figures have shown that while exports to the United States have dropped sharply in April, those in Thailand, Indonesia and Vietnam have increased two figures.
Chinese decision -makers this week Softened key monetary policy tools In order to strengthen domestic activity.
These included discounts in a key interest rate and move to reduce the amount that banks must keep in the reserve in order to stimulate loans – adding to the radical Puekin thrust to revitalize the economy since September.
