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China's CPI rises mildly in first three quarters

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      China

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      China's CPI rises mildly in first three quarters

      2024-10-14 03:31 Last Updated At:05:27

      China's consumer price index (CPI), a main gauge of inflation, rose mildly by 0.3 percent year on year in the first nine months of the year, the National Bureau of Statistics said Sunday.

      The overall three-quarter increase of the index was higher than that of the same period last year, according to official data.

      In the period, food prices dropped by 1.2 percent year on year, while nonfood prices went up 0.6 percent year on year.

      Zhang Xuewu, director of the Analysis and Forecasting Department of Price Monitoring Center of the National Development and Reform Commission, attributed the CPI growth in the first three quarters mainly to price hikes of energy and services.

      "In terms of energy prices, the international crude oil price has gone up and then down this year, with the average price in the first three quarters higher than that in the same period last year. This has led to the growth in domestic gasoline and diesel prices. The prices of catering, tourism and household services have increased to varying degrees as domestic demands pick up, driving the overall growth in services prices. Food prices continued to drop in the first half of the year due to ample supply and smooth links between production and sales. Since the beginning of the third quarter, food prices have gradually reversed the downturn, but the overall trend of the first three quarters is still negative," Zhang said.

      In September, China's CPI remained flat month on month and rose by 0.4 percent year on year, which is slightly lower than the growth rate in August.

      Experts said that with existing policies continuing to produce effect and new policies being rolled out at a faster pace, China's economic recovery is expected to gain stronger momentum in the last quarter of the year.

      China's CPI rises mildly in first three quarters

      China's CPI rises mildly in first three quarters

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      Europeans call Trump's move "wake-up call" as US cuts support for Ukraine

      2025-03-07 16:48 Last Updated At:17:07

      Europeans have called Donald Trump's recent move a "wake-up call" for the continent to defend itself after the U.S. President reduced military support for Ukraine and pressured Europe to increase defense spending.

      Pivoting away from Kiev and its European partners, the Trump administration paused all military aid to Ukraine on Monday and vowed to have Europe take more responsibility for its security and spend more on defense.

      "I'm not feeling safe," said a European resident, adding that the Trump administration "does not seem to be professional at all."

      The diverging policies of the Trump administration have triggered alarm among Europeans who worry they might be exposed to potential security threats.

      "I'm not in danger right now. But I don't know if it's still going to remain in (safe) in the future," said another interviewee in Europe.

      In the face of instability, many have called for the enhancement of regional defense of Europe.

      "Donald Trump being the president of the United States now is a good wake-up call for the whole of Europe and we have to make sure that we understand that we stand on our feet now," said a resident.

      However, that path would ultimately lead to further concerns about surging national defense budgets, government efficiency, and more.

      "Now we need to spend more on defense. Where can it come from? Very difficult. It has to be obviously extra taxation or cuts. Where do you cut?" said a European resident.

      "I don't think the Bundeswehr (German armed forces) is ready to carry out what is required as their necessary tasks. And all this must now be made up for," said a German resident.

      "So we are completely in agreement that the Europeans are now arming themselves, perhaps they will even manage to create a common army, but that will take years," said another interviewee from Germany.

      Europeans call Trump's move "wake-up call" as US cuts support for Ukraine

      Europeans call Trump's move "wake-up call" as US cuts support for Ukraine

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