Chinese government data shows consumer prices in June rose at the slowest pace in six months, suggesting the world’s second-largest economy is still experiencing weak consumer demand amid a broad downturn.
The National Bureau of Statistics said Sunday China’s consumer price index (CPI) rose 1.9 percent in June from a year earlier.
Although the rate was slightly above analyst expectations, it remained far below the 3 percent target set by Chinese officials for 2016 and offers the central bank flexibility to enact a new round of stimulus in the latter half of the year.
The People’s Bank of China has kept interest rates at record lows since October.
China’s leaders have set a 2016 GDP growth target of 6.5 percent to 7 percent, the lowest rate in a quarter century.
via Mainichi
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019