China consumer prices plunge at fastest rate for 15 years as deflation fears deepen
by Kalyeena Makortoff and Graeme Wearden from Economics | The Guardian on (#6JFE3)
Plummeting food prices feed steep annual drop amid renewed calls to stimulate economy and offset weakening demand
China's consumer prices fell at their fastest pace in 15 years in January, as the world's second-largest economy sank deeper into deflation amid weakening demand.
Data released on Thursday showed that China's consumer price index tumbled last month, falling by 0.8% compared with a year earlier. It marks the fourth consecutive month of declines, as well as the sharpest drop since September 2009, when the global economy was still grappling with aftershocks from the 2008 banking crisis.
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