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China inflation rising, consumers fail to rescue economy as expected
来源：shippingazette 编辑：编辑部 发布：2023/02/21 14:56:15
INFLATION in China accelerated in January as the world's second-largest economy emerged from almost three years of strict Covid controls, reports the Wall Street Journal.
Economists expect China's reopening to put pressure on prices at home and around the world this year, though the impact probably won't be enough to prevent a gradual slowdown in global inflation as higher interest rates cool economic growth, said the report.
China's consumer prices in January were up 2.1 per cent from a year earlier, the country's National Bureau of Statistics said, accelerating from December's 1.8 per cent annual rate but slightly below the 2.2 per cent expected by economists polled by the Wall Street Journal.
Beijing ditched its zero-tolerance approach to Covid in December, an abrupt reversal that came at the end of a year in which economic growth was hammered by sporadic lockdowns as the government wrestled to control fast-spreading variants of the virus.
Economists expect China's reopening to put pressure on prices at home and around the world this year, though the impact probably won't be enough to prevent a gradual slowdown in global inflation as higher interest rates cool economic growth, said the report.
China's consumer prices in January were up 2.1 per cent from a year earlier, the country's National Bureau of Statistics said, accelerating from December's 1.8 per cent annual rate but slightly below the 2.2 per cent expected by economists polled by the Wall Street Journal.
Beijing ditched its zero-tolerance approach to Covid in December, an abrupt reversal that came at the end of a year in which economic growth was hammered by sporadic lockdowns as the government wrestled to control fast-spreading variants of the virus.