Consumer prices in China plummeted last month at the fastest pace since the global financial crisis. The Chinese government is facing growing pressure to support a crumbling economy as experts warn that the consumer price index dropped 0.8 per cent in January from a year ago. On Thursday, the National Bureau of Statistics said the economy is the weakest since September 2009. It comes as calls mount for China to support an economic rebound. Zhiwei Zhang, president and chief economist at Pinpoint Asset Management Ltd said: “The CPI data today shows China faces persistent deflationary pressure. “…
