China's Price Plunge: Fastest Consumer Cost Drop in Over a Decade Signals Economic Woes

China’s economy is facing challenges as consumer prices have fallen at the quickest rate in nearly 14 years, signaling a tough road ahead for its economic recovery. In January, the consumer price index, which measures the average change in prices paid by consumers for goods and services, decreased by 0.8% compared to a year earlier, marking the most significant drop since September 2009. This decline in consumer prices, more than what economists had anticipated, suggests China is under deflationary pressure, meaning prices are decreasing across a wide array of goods and services.