The May Consumer Inflation in China reached a very low 0.20%. This puts China at the lowest level of inflation of any of the World’s Advanced Economies (G20). For the Chinese this marks a steady decline in prices since the turn of the century, when Chinese inflation exceeded 5%. Clearly the PBOC has kept a steady hand on monetary growth in China. These are levels that the US Federal Reserve can aspire to.
Below we show the relative inflation rate of the World’s Two Largest Economies.
For the Chinese Press Release on Inflation go here:
http://www.stats.gov.cn/english/PressRelease/202306/t20230614_1940613.html
Chinese Consumer Inflation (red, left scale) US Consumer Inflation (CPI, green, right scale).
