China's deflationary pressures deepen in February

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China's deflationary pressures deepen in February - Channel News Asia

Quick Summary:

BEIJING: China's consumer price index (CPI) in February missed expectations and fell at the sharpest pace in 13 months, while producer price deflation persisted, as seasonal demand faded and households remained cautious about spending amid job and income worries.

In this year's government work report unveiled on Mar 5, consumption was mentioned 31 times, up from 21 last year, surpassing references to technology.

On a month-on-month basis, CPI fell 0.2 per cent, against a 0.7 per cent rise in January and below a predicted 0.1 per cent drop.