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Chinese prices deflate amid wider pressures on the economy
Consumer prices in China are deflating at a rapid pace as the country’s economy struggles to right itself after pandemic-era disruptions. China’s consumer price index (CPI) decreased 0.8 percent in January from a year ago, the largest drop since 2009. Retail deflation has been going on for four months while wholesale deflation has been going on for 16 months, according to multiple outlets. Food prices fell by 5.9 percent on the month. Economists caution that while the January numbers were weak, particularly for food, they were likely made worse by the timing of the lunar new year, which is a major celebration in ... (full story)