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China’s central bank expects ‘U-shaped’ recovery in consumer prices

2023-04-21 09:38:01       source:CNBC

April 20, 2023

BEIJING — The People's Bank of China said Thursday it expects consumer prices to pick up this year, and that the central bank is not expecting inflation or deflation to become a significant problem for China.

China's consumer price index hit an 18-month low in March, and rose 0.7% year-on-year. The lackluster inflation print has added to concerns of soft demand by Chinese consumers.

However, retail sales for March grew by a more-than-expected 10.6% from a year ago.

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