Key Points

  • China announced its economic performance in June, with both CPI and PPI being lower than expected.
  • The CPI was flat year over year in June as PPI Fell by 5.4%
  • The economy’s growth rate of core CPI, however, narrowed to o.4%

China has been one of the strongest economies in the world in the ongoing financial crisis, and it still sends relatively strong economic data. Its CPI remained flat in June, but the PPI has fallen to the lowest levels since 2016.

China’s economy still sends strong economic data

A report from a local media house indicates that China’s drop in Producer Price Index (PPI) has fallen due to a continued decline in commodity prices. The report indicated that the drop in international oil price was also to consider in the PPI moves.

The country’s Consumer Price Index fell to 0, and the month-to-month decline in June was the same as in May. According to information from the National Bureau of Statistics on July 10, the core CPI in China rose by 0.4% Year-on-Year, a decrease of 0.2% from May. 

This data comes when the US seeks to make amends with the Asian economic super economy over the continued souring of their bilateral ties. This month, two members of the U.S. Cabinet visited China in a bid to improve their business ties. On July 10, US Treasury Secretary Janet Yellen visited the nation to improve business relations.

She told journalists and media houses that she is convinced her trip has hit its aims. However, more talks are needed to improve the situation between the two countries. Keep watching Fintech Express for updates on finance and other fintech-related developments.