and early noughties. now this comes hot the heels of dissapointing china trade data on tuesday showing exports sank at their fastest rate since the pandemic. global demand for chinese made goods is falling, down more than 14% in the year tojuly. but domestic demand is down too with imports also falling by more than 12% in the same period. joining me now is janet mui, head of market analysis, rbc brewin dolphin where is this deflation coming from? good morning, thanks for having me. so, this deflation data is mostly coming from food. and also commodities prices like raw materials, energy etc. actually, if you look at the underlying deflation, things like services and tourism and leisure, hotels.