10/17/2023 0 Comments Influential global cities are located disproportionately in certain parts of the world.![]() ![]() Also, when volatile food and energy prices are excluded, core prices were up 0.8% in July from a year earlier. This underlying rate of inflation is still very low.īy category, food prices fell 1.7% in July versus a year earlier, largely due to a sharp decline in pork prices. Nonfood prices were unchanged in July from a year earlier. ![]() Here are the details: In July, Chinese consumer prices fell 0.3% from a year earlier, the first decline since February 2021. Prices were up 0.2% from the previous month, which suggests a modest positive rate of inflation. Now, however, as Western economies struggle to bring inflation down from 40-year highs, China is suddenly struggling with deflation. This was not meant to be. Rather, when China finally removed all pandemic-related restrictions at the end of 2022, there was an expectation that economic growth would soar while inflation would rise commensurately. Neither happened. Instead, the economy has sputtered while inflation decelerated.
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