Consumer Price Index Falls in 24 Provinces, Moderate Recovery Predicted for 2024
January 16, 2024
The National Bureau of Statistics has released new data showing a decline in the consumer price index (CPI) in 24 provinces across China. According to the data, prices in three provinces, Guizhou, Henan, and Shanxi, have been on a downward trend for nine consecutive months.
Economists and analysts are now predicting that the CPI will remain low in the short term, but there may be a moderate recovery in 2024 as market demand increases and supply and demand improve. Factors such as the “hog cycle” entering the price rise stage and the stabilization of international crude oil prices are expected to contribute to an increase in the year-on-year CPI from 0.3% in 2023 to 1.3% in 2024, reducing the risk of deflation.
However, it’s important to note that the content, data, and tools in this article do not constitute investment advice and are for reference only. The financial community is warning investors to be cautious in the stock market, as it is inherently risky.
As the economy continues to evolve, it will be important for investors to stay informed and make careful investment decisions in light of these developments.