China consumer prices fell in April for third straight month: official data
A person shops at a market in Chinatown on April 11, 2025 in New York. China said Friday it would raise its tariffs on US goods to 125 percent in a further escalation of a trade war that threatens to bring exports to a halt between the world's two biggest economies. Beijing's retaliation sparked fresh market volatility, with stocks seesawing, gold prices surging and US government bonds under pressure.
ANGELA WEISS / AFP
Consumer prices in China slumped in April for the third straight month, official data showed Saturday, as Beijing attempts to revive an economy stymied by sluggish spending and a fierce trade war with Washington.
The world's second-largest economy has grappled with persistent deflationary pressure in recent years, with longstanding woes in the property sector and export headwinds impeding growth.
The consumer price index (CPI) — a key measure of inflation — was down 0.1 percent last month year-on-year, according to data released by the National Bureau of Statistics (NBS), following previous drops in February and March.
The reading was in line with a Bloomberg forecast of a 0.1 percent year-on-year decline based on a survey of economists, and consistent with the slight drop recorded in March.
The latest figures come ahead of Saturday's start to a meeting of key economic officials from China and the United States in Switzerland, offering a potential offramp for the high-stakes trade war launched by President Donald Trump.
NBS statistician Dong Lijuan said Saturday in a statement about the data that "international imported factors have a certain downward impact on prices in some industries."
US tariffs on imports from the manufacturing powerhouse now stand at a staggering 145 percent for many products, and reach as high as 245 percent cumulatively on others.