In July 2024, China's producer prices fell by 0.8% year-on-year, marking the 22nd consecutive month of deflation. Despite government support measures, weak consumption persisted. Costs of means of production dropped by 0.7%, with processing prices down 2.1%. However, mining and raw material prices increased by 3.5% and 1.8%, respectively. Consumer goods prices remained sluggish, particularly in food (-0.7%) and clothing (-0.5%). On a monthly basis, producer prices declined by 0.2%, consistent with June's figures.

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