Aerial view of self-propelled jack-up wind energy set up platform “Huaxia Honghu 01” after being delivered at CIMC Raffles’ Yantai development base on March 6, 2025 in Yantai, Shandong Province of China.
Vcg | Visible China Group | Getty Pictures
China’s nationwide shopper worth index (CPI) in February fell into destructive territory for the primary time since January final 12 months, weighed down by a decline in meals, tobacco and alcohol costs.
The CPI declined by 0.7% final month from a 12 months earlier, knowledge published Sunday by China’s Nationwide Bureau of Statistics confirmed, reversing a year-on-year achieve of 0.5% in January.
The studying missed estimates of an annualized contraction of 0.5%, in line with a Reuters ballot of economists.
China’s CPI in February fell 0.2% on a month-to-month foundation, in the meantime, in comparison with an increase of 0.7% in January.
The info comes as traders proceed to search for indicators that Beijing’s stimulus measures will help to spice up the nation’s economic recovery.
China on Wednesday set its GDP goal for 2025 at “around 5%” and laid out plans to stabilize financial progress by propping up home demand.
Beijing additionally revised down its annual shopper worth inflation goal to “round 2%” — the bottom in additional than twenty years — from 3% or increased in prior years, in line with the Asia Society Coverage Institute.
The brand new inflation objective would act extra as a ceiling than a goal to be realized.
Econmists say China’s progress goal of round 5% this 12 months could also be difficult to realize, significantly amid persistently weak home consumption and an escalating trade dispute with U.S. President Donald Trump’s administration.
— CNBC’s Evelyn Cheng & Anniek Bao contributed to this report.
