Connect with us

Business

Inflation in China down to 1.2 percent in May

Published

9 years ago

on

Beijing: China’s consumer price index (CPI), the main gauge of inflation, grew 1.2 percent year-on-year in May, the National Bureau of Statistics (NBS) said on Tuesday.

The reading fell from 1.5 percent posted in April, as per  news agency reported.

On a monthly basis, consumer prices in May slipped 0.2 percent, unchanged from the 0.2-percent drop recorded in April.

Falling prices of vegetables, fruits and eggs due to seasonal factors were the main cause of the CPI decline last month, NBS statistician Yu Qiumei said.

Consumer inflation last month suggests “significant deflation pressures”, with an urgent need for more policy easing, said Qu Hongbin, chief economist for China at HSBC.

Falling price levels may be a bonus for consumers in the short term, but factories are likely to postpone their investment and people reduce spending on the prospect of continued price drops.

A combination of muted inflation and slowing economy has troubled the world’s second largest economy as it tries to re-tool its economy for quality growth.

China’s gross domestic product (GDP) grew 7.4 percent in 2014, the weakest annual expansion in 24 years. GDP growth in the first quarter of the year eased to 7 percent.

The central bank has cut the benchmark interest rates three times since November in a bid to spur the faltering economy by lowering financing costs for enterprises.

The reserve requirement ratio (RRR), the amount of cash banks are required to hold as reserves, was cut by 100 basis points on April 20, the second cut this year and the biggest reduction since November 2008, the height of the global financial crisis.

China targets an annual economic growth rate of around 7 percent for the year and aims to keep inflation at around 3 percent.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending