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Chinese consumer prices fall and other economics stories to read this week
Consumer prices in China have fallen significantly, dropping at their sharpest rate in more than 14 years. Producer prices also rose in January. The Chinese economy has been dealing with deflationary pressures since early 2023. The consumer price index (CPI) fell 0.8% in January compared to a year earlier, following a 0.3% decrease in December, according to National Bureau of Statistics data. chart 2. US trade deficit falls significantly in 2023 The United States trade deficit shrank by nearly 19% in 2023, despite widening slightly in December. This represents the sharpest contraction in more than 14 years, driven ... (full story)