© Reuters. FILE PHOTO: A customer shops for vegetables at a wet market in Beijing, China August 10, 2023. REUTERS/Yew Lun Tian
BEIJING (Reuters) – There is no deflation in China and there will be no deflation in the future, a spokesman of China’s statistics bureau said on Tuesday.
China’s economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing.
Still, the bureau expects a decline in producer price index to moderate further, according to Fu.
China’s consumer sector tipped into deflation and factory-gate prices extended declines in July, official data showed.
Fu also said that risks for property developers could be gradually resolved due to policy optimisation.