China’s factory gate price deflation deepened in June as US President Donald Trump’s trade war weighed on the world’s largest manufacturer, worsening a glut in industrial goods.
Consumer prices edged higher for the first time since January, official data showed on Wednesday, as Beijing seeks to stimulate domestic consumption to counter oversupply and overcome a prolonged property sector slump.
Producer price inflation fell 3.6 per cent year on year in June, worse than a 3.2 per cent drop forecast in a Reuters poll of analysts and a decline of 3.3 per cent in May. Consumer prices rose 0.1 per cent against analyst expectations of flat prices and a decline of 0.1 per cent in May.
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