Goldman Sachs Revises China's Inflation Forecast for 2023

Goldman Sachs has adjusted its inflation forecast for China this year, according to Ming Pao. The investment bank now anticipates the Consumer Price Index (CPI) to rise by 0.8% year-on-year, an increase from its previous prediction of 0.6%. Additionally, Goldman Sachs has revised its expectations for the Producer Price Index (PPI), changing its forecast from a 0.5% decline to a 0.3% growth.