July 1, 2020 / 4:17 AM / 7 days ago

China will not experience high inflation or deflation: central bank publication

FILE PHOTO: A staff member inserts a price tag for vegetable at a Walmart in Beijing, China, September 23, 2019. Picture taken September 23, 2019. REUTERS/Tingshu Wang/File Photo

BEIJING (Reuters) - China will not experience high inflation or deflation as its economy is gradually recovering, the central bank said on Wednesday.

China’s consumer inflation is expected to ease on a quarterly basis this year, and chances of a rebound is not high, according to an article posted in a People’s Bank of China (PBOC) publication.

Year-on-year falls in producer prices are expected to narrow as investment and consumption recovers in the second half of the year, it said.

Reporting by Stella Qiu, Kevin Yao and Judy Hua; Editing by Shri Navaratnam

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