In August, China experienced a slight uptick in consumer prices, along with a less significant decline in factory prices, signaling potential economic stabilization.
July had witnessed a 0.3% decline in consumer prices. Meanwhile, core inflation, which excludes food and fuel, remained steady at 0.8% in August.
Food prices experienced a 1.7% decrease over the year, while non-food costs increased by 0.5%. Notably in sectors associated with tourism.
The Chinese government has implemented various measures to stimulate economic growth, including facilitating easier access to home purchases.
Despite China’s leadership setting a growth target of around 5% for 2023. Uncertainties persist due to challenges such as a sluggish property market