On October 13, 2024, data from China's National Bureau of Statistics revealed that the consumer price index (CPI) rose by only 0.4% year-on-year in September, falling short of the expected 0.6% increase. This marks a decline from the previous month's 0.6% rise.
Simultaneously, the producer price index (PPI) experienced a significant drop of 2.8% compared to the previous year, continuing a trend of deflation that has persisted for two years. Economists had anticipated a lower decline of 2.5%. These figures highlight the ongoing economic struggles in China, prompting calls for additional policy support to stimulate demand and stabilize economic activity.