Falling prices in China have reinforced fears of the slowdown in the world’s second-largest economy, highlighting sluggish consumer demand and the struggles of over-extended factories.
The CPI rose an average of just 2.3 per cent in the first quarter compared with the same period a year earlier. That is down from 2.9 per cent in the final quarter of 2013 and below the government’s target of 3.5 per cent inflation this year.
Consumer prices fell 0.5 per cent in March from the previous month, while producer prices remained mired in deflationary territory for a 25th-consecutive month, according to figures published by the national bureau of statistics on Friday.
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