Chinese Inflation Slowdown

July 11, 2016 Share Print 0

Chinese government data shows consumer prices in June rose at the slowest pace in six months, suggesting the world’s second-largest economy is still experiencing weak consumer demand amid a broad downturn.

The National Bureau of Statistics said Sunday China’s consumer price index (CPI) rose 1.9 percent in June from a year earlier.

Although the rate was slightly above analyst expectations, it remained far below the 3 percent target set by Chinese officials for 2016 and offers the central bank flexibility to enact a new round of stimulus in the latter half of the year.

The People’s Bank of China has kept interest rates at record lows since October.

China’s leaders have set a 2016 GDP growth target of 6.5 percent to 7 percent, the lowest rate in a quarter century.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.