September 9, 2023

China's Consumer Price Index (CPI), a key indicator of inflation, witnessed a turnaround in August, in line with market expectations. This reversal of negative growth seen in the previous month underscores the nation's ongoing recovery in the consumer market amid a mix of economic stimulus measures implemented following a top leadership meeting in July.

With domestic demand steadily rising, it is expected that domestic CPI will register a higher year-on-year increase in the coming months, experts said, refuting Western claims that a deflation crisis is gripping the world's second-largest economy.

CPI rose by 0.1 percent on a yearly basis in August, while the factory-gate prices of bulk commodities posted a narrow decline, according to data released by the National Bureau of Statistics (NBS) on Saturday.

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