China s consumer sector enters deflation
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China battling deflation among consumer prices
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China s consumer sector enters deflation
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China's economy is experiencing deflation as consumer prices have dropped for the first time in over two years, indicating reduced demand. In July, the consumer price index (CPI) fell by 0.3% compared to the previous year, marking the first decrease since February 2021, as per the reports of China’s National Bureau of Statistics on Wednesday, August 9.