In China, Higher Consumer Inflation Masks Weak Demand

HONG KONG — China’s consumer inflation rate rose to a two-year high in July, but a fall in core inflation points to a different problem: weak domestic demand.

After rising just 0.9% in 2021 and staying largely within the government’s comfort zone since the start of the pandemic, consumer prices in the world’s second-biggest economy rose 2.7% year-on-year in July, accelerating year-on-year Rise from 2.5% in June as food prices soared, China’s national statistics bureau said on Wednesday. In China, Higher Consumer Inflation Masks Weak Demand

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