Consumer inflation in China grew 1.4% in June year-on-year up from growth of 1.2% in May, while producer prices fell 4.8% for the period, Reuters reported, citing new figures from the National Bureau of Statistics. The fall in producer prices marked the 39th consecutive month of decline for the figure. “The data continues to point out the weak domestic demand in the real economy. Given the stabilizing of consumer prices, we think there are still room for the central bank to ease its monetary policy,” said economist Li Huiyong at Shenyin & Wanguo Securities.
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