No deflation in China's economy either now or in the future, National Bureau of Statistics says

Fu Linghui, spokesman for the National Bureau of Statistics, said that the current CPI in China will be only temporary. There is no deflation in the Chinese economy at present, and there will be no deflation in the next future, either.

However, in the next stage, the year-on-year increase in CPI will remain at a low level.

This is mainly because after China's economic operation returns to normal, the recovery of demand is slower than that of supply, market demand has limited boost to consumer prices in the short term. At the same time, lower import prices will also drag down domestic prices. The carry-over effects are fading.