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11 Nov 2024

International Economy

China’s inflation remained low at 0.3% YoY in October 2024 (Business Brief No.4099 Full Ed.)

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China’s inflation remained low at 0.3% YoY in October 2024

  • In October 2024, China’s inflation was primarily driven by rising food prices.
  • For the remainder of 2024, China’s inflation is expected to stay close to zero percent.
  • Domestic demand is likely to remain weak, while the latest fiscal measures focus on addressing local government debt problems, and are expected to have limited direct impact on the overall Chinese economy.
  • On the supply side, overcapacity remains an issue, leading to a continued downward trend in product prices.
  • KResearch holds the view that deflation risk will remain a key factor pressuring the Chinese economy for the rest of the year. For full-year 2024, China’s economic growth is projected at 4.8 percent.

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International Economy