BEIJING – China‘s factory gate deflation deepened in June and missed expectations, while consumer prices were unchanged, data showed on Monday, as a faltering post-COVID recovery weighed on demand.
The producer price index (PPI) fell for a ninth consecutive month, down 5.4 percent from a year earlier after a 4.6- percent drop the previous month. That compared with a forecast for a 5- percent fall.
The consumer price index (CPI) was unchanged year-on-year, compared with the 0.2- percent gain seen in May, the National Bureau of Statistics (NBS) said, missing the median estimate for a 0.2- percent rise in a Reuters poll.
Momentum in China‘s economic recovery has slowed as manufacturing and consumer spending falters. Authorities are signaling faster growth in the second quarter and markets are awaiting more concrete stimulus from Beijing to prop up consumption.
READ: China’s factory gate deflation deepens in May
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