Deflation continued in October, middle-class consumption downgraded significantly, and the pressure on mortgage holders increasedChina's inflation data in October showed that core inflation fell, mainly due to high employment pressure and income

Deflation continued in October, middle-class consumption downgraded significantly, and the pressure on mortgage holders increased

China's October inflation data showed that core inflation fell, mainly due to high employment pressure on residents and declining incomes, especially among young people, which led to a downgrade in consumption. The deflationary environment is good for debt-free households, but bad for business owners and those with debt, especially large mortgages, and high real interest rates can increase their borrowing costs.