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Shanghai inflation weakens, trade plunges in Jan
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SHANGHAI'S inflation weakened in January while trade slumped, indicating an economic slowdown in the city at the start of the year which was in line with the nation's performance.
The Consumer Price Index, the main gauge of inflation, rose 1.8 percent from a year earlier last month, the Shanghai Statistics Bureau said today.
It scaled back from the pace of 2.6 percent in both December and November of last year, and compared with the increase of 0.8 percent nationwide that suggested weak domestic demand.
The Producer Price Index, the factory-gate measurement of inflation and a harbinger of future consumer prices, dropped 3.3 percent in January, down further from the contraction of 2.3 percent a month earlier.
Meanwhile, trade lost 9.6 percent to US$38.4 billion last month, with exports decreasing 8.8 percent and imports falling 10.3 percent.
Shanghai's gross domestic product expanded 7 percent from a year earlier in 2014, slowing from the pace of 7.7 percent in 2013 and lower than the national average of 7.4 percent.
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