"PBOC Under Pressure as China Faces Worst Deflation Streak in 14 Years"

China's consumer prices have experienced their longest period of decline since 2009, with the consumer price index slipping 0.3% in December and factory-gate costs dropping 2.7% due to lower commodity prices and weak demand. This deflationary trend, coupled with the first annual decline in exports in seven years, is putting pressure on the People's Bank of China (PBOC) to provide more government support to reverse the trend.