HomeTop Global NewsChina's Consumer Prices Rise, Easing Economic Pressure

China’s Consumer Prices Rise, Easing Economic Pressure

China’s economic pressures eased in August as consumer prices rose, showing signs that the world’s second-largest economy may have gotten over its worst post-pandemic economic slump.

Data released by the National Bureau of Statistics on Saturday showed that China’s consumer price index rose by 0.1% last month, reversing the trajectory of July’s 0.3% drop; its first decline in over two years.

‘The year-on-year increase in CPI was mainly helped by summer travel, which boosted transportation, cultural tourism, accommodation, catering, and other sectors,” Bruce Pang, chief economist at Jones Lang Lasalle Inc. remarked. Economic recovery was also aided by a 3% drop in producer prices.

Home Sales Plummeted in August According to Pending Data

Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the...

Stocks Fall After the Release of GDP Data

U.S. stocks declined on Thursday as investors digested the latest round of GDP data. Estimates on Thursday showed that the U.S. economy's GDP for...

Hyundai and Kia Recall Over 3 Million Vehicles Due to Fire Risk

Hyundai and Kia are in the process of recalling over 3.4 million vehicles in the United States due to a fire risk. Both automakers...