(Beijing Comprehensive News) The consumer price index (CPI) and the industrial producer's factory price index (PPI) in June (CPI) in China have weakened again, of which CPI has fallen to zero year -on -year, the first time since February 2021, the first time since February 2021Zero growth.
The latest data once again highlights the weakness of China's economic recovery, and further triggers the market's concerns about China's risk of deflation in China.
The data released by the National Bureau of Statistics on Monday (July 10) showed that in June, the year -on -year growth rate of China's CPI decreased from 0.2 % in May to zero.After deducting large fluctuating food and energy prices, China's core CPI in June rose 0.4 % year -on -year, an increase of 0.2 percentage points from May, showing that the demand for goods and services was sluggish.
In addition, the PPI in June decreased by 5.4 %, a decrease of 0.8 percentage points from May in May, which is the lowest in the six consecutive months. It is also the lowest since January 2016.
Analysis believes that the general decline in prices may further crack down on the fragile confidence of China ’s domestic origin, causing the economy to fall into a vicious cycle of weakened demand and the decline in price decline, and the risk of curb tightening has increased.
Xing Zhaopeng, a senior Chinese strategist at the Australian and New Bank, pointed out that China is now facing the problem of excess supply, and the tightening of currency and the cycle of economic recession are increasing.
After the prevention and control measures of the epidemic in loosening the epidemic, a short -lived economic rebound appeared, but many macro data since April are not satisfactory. In May, the youth unemployment rate even soared to a historical high of 20.8 %.
The call has recently required the government to introduce more economic stimulus measures, but Chinese decision makers have not launched a large -scale stimulus plan.Some economic analysts have judged that the weakening of CPI and PPI data in June may promote the launch of a series of stable economic measures in time.
David Qu David, an economist at the Bloomberg Institute, pointed out that the CPI in June was zero and PPI further declined, showing that China's rebound after the epidemic has lost more motivation;On the shadow, the necessity of the People's Bank of China to introduce more stimulus measures is increasing.
The current situation of small demand in China has a sharp contrast with most Western economies.Regarding China's low inflation situation, the research institute of the Bank of China by China State -owned Bank of China pointed out that in response to this rational view, the lower level of inflation has left more and larger performance in macro policies, stable employment, and stable prices.space.
China News Network quoted the Bank of China Research Institute that Chinese monetary policy will not occur like the US and European economies such as the United States and Europe to govern the high inflation problem, and even the financial market is turbulent dueThe environment will maintain overall stability under the guidance of steady macro policies.
