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Drop in China’s inflation rate lifts confidence

A drop in China’s inflation rate has boosted consumer and entrepreneur confidence, as measures taken to tame consumer prices are continuing to make an impact, the People’s Bank of China (PBOC) said on Tuesday.

The Residents’ Price Satisfaction Index rose to 19.7 percent in the first quarter of this year, up 3.2 percentage points from the previous quarter, the central bank said in a statement on its website, citing a recent survey.

The PBOC carried out the quarterly survey among 20,000 urban bank depositors in 50 major cities.
 

(Source: Shanghai Daily )