Beijing, China - June 10, 2024: China's consumer deflation persisted for a fourth consecutive month, according to the National Bureau of Statistics.
The consumer-price index decreased by 0.1% in May compared to the previous year, mirroring the decline observed in April. This occurred despite increased spending during national holidays.
Economists surveyed by Bloomberg had predicted a 0.2% decrease. This ongoing deflationary trend reflects the challenges posed by weak domestic demand and intensified price competition within the Chinese market.