China Producer Prices in Deflation for First Time Since 2020
- PPI declines 1.3% y/y in Oct. compared to 1.5% expected drop
- CPI rises 2.1%, while core inflation is unchanged at 0.6%
This article is for subscribers only.
China’s producer prices fell into deflation for the first time in nearly two years as global commodity prices slid and restrictions to control Covid outbreaks dragged on demand, a further sign of the challenges facing companies already under pressure from the economic downturn.
The producer price index declined 1.3% in October from a year earlier after gaining 0.9% the previous month, the National Bureau of Statistics said Wednesday, the first fall in the gauge since December 2020.