Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
China economy

Prices of consumer goods in China fall for the first time in five years as Covid-19 hits buyers’ confidence

  • Prices of fast-moving consumer goods eased 2.1 per cent year on year from January to September
  • A recovery in consumer spending in the second and third quarters was not enough to offset the sharp decline in the early months, says Kantar’s Jason Yu

Topic |   China economy
Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
Chinese consumers opted for lower-priced goods amid fears over declining incomes and job security because of the Covid-19 pandemic. Photo: Reuters
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