China Reports Falling Prices | WHAT REALLY HAPPENED


China Reports Falling Prices

The New York Times KEITH BRADSHER March 10, 2009 HONG KONG — Most economists still do not expect the Chinese economy to suffer a broad decline in prices this year, but statistics released on Tuesday did provide disturbing whiffs of possible deflation.

Consumer prices were 1.6 percent lower last month than a year earlier, the first decline since December, 2002, the National Bureau of Statistics announced in Beijing. February’s result represented a precipitous drop from an inflation rate of 8.7 percent in February of last year, when rising prices were a top priority for the Chinese government.

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