China’s consumer and producer prices picked up slightly last month but remained below target, official data showed today, as the world’s second-largest economy grapples with weak domestic demand.<\/p>\n
The consumer price index – a key measure of inflation – came in at 0.8% in August, according to the National Bureau of Statistics (NBS), which was up from 0.5% in July and in line with a forecast in a Bloomberg survey of economists.<\/p>\n
Beijing has battled a persistent slump in domestic spending since the end of the Covid-19 pandemic.<\/p>\n
The CPI has remained below the current target of 2% for more than three years, slipping into negative territory several times during that period.<\/p>\n
The weak activity has presented challenges to leaders aiming to maintain growth momentum, even as exports and various high-tech sectors perform strongly.<\/p>\n
Prices paid at Chinese factory gates also picked up in August, the NBS figures showed, expanding 3.8% year-on-year.<\/p>\n
That was faster than July’s 3.5% and topped the 3.6% forecast in the Bloomberg survey.<\/p>\n
The readings come day after data showed China’s imports and exports surging last month.<\/p>\n
Overseas shipments have been boosted this year by heightened global demand for technology products amid the artificial intelligence boom.<\/p>\n
Beijing is targeting economic growth of 4.5-5% this year, a pace that would outstrip most developed economies but rank among the lowest in decades for China.<\/p>\n
The Chinese economy expanded just 4.3% in the second quarter, missing forecasts and representing the weakest pace in more than three years.<\/p>\n","protected":false},"excerpt":{"rendered":"China’s consumer and producer prices picked up slightly last month but remained below target, official data showed today,…\n","protected":false},"author":2,"featured_media":619104,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-619103","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/619103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=619103"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/619103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/619104"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=619103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=619103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=619103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}