China hits worst inflation in five months

by times news cr

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The inflation in china accelerated more than expected in July to 0.5% year-on-year, the highest level reached in the last five months, the Ministry of Economy said on Friday. National Statistics Office.

This figure represents the sixth consecutive month of rising consumer prices and the highest level of inflation since February, when this indicator stood at a 0.7% year-on-year.

Previously, China went through a period of falling prices between October and January linked to the slowdown of the world’s second largest economy, weighed down by a debt crisis in the real estate sectorlow consumption and high youth unemployment.

Chinese authorities have implemented various measures to boost growth, some of them aimed at promoting local consumption.

On the side of Latin America, Colombia recorded an interannual inflation of 6.86% in July, five points less than the 11.78% of the same month in 2023 and the 7.18% of the same month in 2023 and the 7.18% of June, the government reported yesterday. statistical authority.

“For the month of July we substantially reduced the inflation rate,” the left-wing president responded on his account on social network X. Gustavo Petro, which he described as “a complete economic success.”

The country’s inflation has been almost halved since March 2023, when it reached 13.34%, the highest since the 1999 crisis.

2024-08-13 22:26:43

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