China’s inflation in May 2024 rose by 0.3% YoY but is still considered low, while producer price index fell for the 20th consecutive month
- For the rest of 2024, China’s inflation is expected to trend upwards but within a limited range.
- Meanwhile, domestic demand will remain under pressure from weak consumer confidence.
- China’s economic stimulus measures remain essential to revive consumer confidence and domestic consumption.
- Attention must be paid to the Third Plenum of the Central Committee of the Communist Party of China, slated for July 2024.
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