Part 5/9:
Contrasting the rising prices of necessities, prices for consumer goods, such as mobile phones and cosmetics, have been slashed as companies engage in aggressive discounting to attract increasingly reluctant consumers. This paradox underscores the current economic malaise, where insufficient domestic demand perpetuates layoffs and stagnant consumer spending.
Data from the National Bureau of Statistics highlights a worrying trend, with inflation rates for both the Consumer Price Index (CPI) and Producer Price Index (PPI) falling year-on-year. The central government, acknowledging the importance of moderate inflation for economic growth, has set targets for controlled price increases to stimulate both consumer confidence and economic recovery.