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China’s Jan inflation hits lowest level in more than 5 years

by ChemOrbis Editorial Team -
  • 10/02/2015 (18:25)
According to data released by China’s National Bureau of Statistics, the country’s inflation fell to the lowest level since November 2009 in January. China’s inflation slowed to 0.8% in January after posting a 1.5% increase in December while economists’ initial forecasts called for a gain of 1.0% in a survey by Bloomberg.

The larger than expected decrease was attributed to plunging crude oil prices and lower food prices stemming from seasonal factors.

Analysts commented that the slowdown in the inflation rate is the latest in a series of signals that the country may see a sharper economic slowdown than previously expected.

China’s economy grew at 7.4% in 2014, the slowest number recorded in the past 24 years.
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