November 9, 2024

China’s consumer prices rose at the slowest pace in four months in October while producer price deflation deepened, data showed on Saturday, even as Beijing doubled down on stimulus to support the sputtering economy.

In its latest stimulus measures, the country’s top legislative body approved a 10 trillion yuan ($1.4 trillion) package on Friday to ease local government “hidden debt” burdens, rather than directly injecting money into the world’s second-biggest economy, as some investors had hoped.

Analysts say the package will likely do little to boost economic activity, demand and prices in the near term.

Read more:

https://www.cnbc.com/2024/11/09/china-consumer-prices-rise-slowest-in-4-months-despite-stimulus.html