From CNBC: 2024-07-09 22:20:07

China’s consumer price inflation rose by 0.2% in June, missing expectations, while producer prices fell in-line with forecasts. Pork prices surged by 18.1% but beef prices fell by 13.4%. Core CPI rose by 0.6% year-on-year in June. The risk of deflation persists due to weak domestic demand in China.

Zhiwei Zhang, chief economist at Pinpoint Asset Management, stated that deflation risk remains in China. The country relies on exports to boost growth. Lackluster domestic demand has kept inflation low, unlike in the U.S. where prices have stayed elevated. China will release trade data for June on Friday.

Read more: China’s inflation numbers miss expectations, rising 0.2% in June