China's Deflation Pressures Easing

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Last updated at: (Beijing Time) Sunday, May 18, 2003

China's Deflation Pressures Easing

Deflationary pressures that have dogged China's growth are showing signs of easing, according to the central bank.

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Deflationary pressures that have dogged China's growth are showing signs of easing, according to the central bank.

The consumer price index (CPI), a key gauge of inflation, reversed a downward spiral in the first three months, the People'sBank of China (PBOC) said in its first-quarter monetary policy report released Wednesday.

"This likely signals that our economy has shaken off the trend of a nearly two-year-old price slump," the China Daily quoted the report as saying.

The central bank predicted a CPI rise between one and two percent for the whole year.

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