Official figures showed a decline in the country’s inflation rate in December, supported by the decline in food prices and the cost of products. The inflation rate declined to 1.5 percent, down from 2.3 percent in November.
The Producer Price Index also rose less than expected in December to slightly exceed 10%, which gives the Chinese Central Bank more room for more stimulus measures and rate cuts to support the economy.
The World Bank lowered its forecast for economic growth in The United States, the Eurozone, and China He warned that high debt levels, increasing income inequality and the new variants of Corona are factors that threaten recovery in developing countries.
On the other hand, the World Bank expected global growth to slow significantly to 4.1% in 2022 from 5.5% last year, to continue falling to 3.2% next year, as the modest increase in demand dissipates and governments end the huge financial and monetary support they provided at the beginnings of the pandemic.