In August 2022, producer inflation in China decreased to an 18-month low, while consumer prices increased slower than expected, highlighting the country’s struggling domestic demand and indicating the potential for more easing of policy by the central bank.
Over the past six years, the consumer price index (CPI) increased gradually from 2017 to 2022, according to GlobalData.
Similarly, the producer price index (PPI) also increased gradually from 2017 to 2021, according to GlobalData.
Factory gate inflation is projected to decline further during the rest of 2022 owing to a decrease in commodity prices and a greater base for comparison. In the second-largest economy globally, where the slump in property market, COVID-19 containment measures, and power shortages hampered consumer and industry activity, official and private data indicate further loss of momentum in August 2022.
According to the National Health Commission, 301 of the 1,404 new COVID-19 infections in China on September 8, 2022, were symptomatic, and Chengdu extended the lockdown for the majority of its 21 million residents.
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