 "Inflation")
China’s consumer inflation rate eased to zero in June while factory-gate prices fell further, underlining continued weakness in demand and adding to concerns about the threat of deflation in the economy.
The consumer price index was unchanged last month from a year earlier, the National Bureau of Statistics said Monday. That was lower than expectations of a 0.2 per cent increase in a Bloomberg survey of economists, and compared to May’s reading of 0.2 per cent.
Core inflation, which excludes volatile food and energy costs, slowed to 0.4 per cent from 0.6 per cent.
Producer prices fell 5.4 per cent in June, compared with a 4.6 per cent drop in the previous month. Economists had expected a 5 per cent decline.
The inflation data adds to mounting evidence that the economic recovery is cooling.
Deflation concerns have risen in recent months, weighing on confidence. Producers have already had to contend with lower commodity prices and weak demand at home and abroad.
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