China’s CPI Rose in September, the Fastest Growth Rate Since April 2020

• The economic structure of China is badly affected because of the global pandemic.  
• The rate of Inflation is continuously increasing in China. 

China consumer prices have grown at the highest rate since April 2020, primarily by food costs, leaving room for more policy easing to prop up an economy faltering from COVID-19 restrictions and the property sector slowdown. Limited.  

According to the latest report of the National Bureau of Statistics (NBS), the consumer price index(CPI) attained a hike of around 2.8% compared to 2021; in august, the hike was around 2.5%. 

Consumer inflation increased after the prices of food hiked by 8.8% in a year, and the hike recorded in august was around 6.1

%. Pork prices rose 36.0% from a 22.4% increase a month ago, and vegetable prices rose 12.1% from a 6.0% earlier. 

The continuing trend of inflation is much more common. Regardless of major inflation, that does not include volatile food and energy price-0.6% versus 0.8% in august.

On a monthly basis, the consumer price index rose by 03.% after decreasing to 0.1% in August 2022, also supported by an increase in monthly pork price inflation.

The producer price index(PPI) has hiked at its slowed speed since January 2021, increasing 0.9% yearly from 2.3% growth a month earlier compared with a prediction of 1.0%.   

Analysts foresaw low oil prices to return largely to producer inflation, with factory surveys showing that companies were passing some savings to customers to increase flagging sales.

The world’s second-largest economy hardly grew in the June quarter and labored to gain traction amid protracted pandemic limitations, a severe slowdown in the property market, and easing exports.

According to Nomura’s research note of 10 October, around 36 cities majorly contribute around 13.9% of China’s total population and approximately 19.7% of the country’s GDP, which enforced different levels of lockdowns or some district-based control measures. 

The striction was so severe that the people were suggested to stay where they were until further update. All the responsible authorities were working hard to revive the country’s economic conditions.  

On 11 October 2022, The International Monetary fund decreased its 2022 and 2023 economic growth forecasts for china to 3.2% and 4.4, Stating that the continuous lockdown under the china zero-Covid policy has taken a Toll.  

It is known that after a global pandemic, most countries have faced an economic crisis, and some are still facing it.Some reliable data states that Sri-lanka faced an economic crisis after the pandemic because the major economy of Sri Lanka depended on tourism. After Covid-19, the number of tourists visiting Srilanka decreased by around 50-70%.       

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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