China's consumer prices have plummeted at the quickest rate in 15 years this January, pushing the world's second-largest economy further into deflation due to weakening demand. The consumer price index tumbled last month, dropping by 0.8% compared to the previous year. This marks the fourth consecutive month of decline and the steepest fall since September 2009. Food prices, which fell by 5.9% annually, significantly impacted the headline inflation figure. Fresh vegetables and fruit prices fell by 12.7% and 9.1% respectively.

Source: The Guardian February 13, 2024 13:11 UTC