Although the consumer price level has fallen quite low in China recently, the country is not the exporter of deflation to the world. Actually, China is "being deflated".

并不是中国向世界输出了通缩，你说叫“输出者”，实际上我们是“被通缩”。

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But interest rates on bank deposits remain far below consumer price inflation, while interest rates on corporate loans remain below inflation at the producer level.

不过，即使这样，银行利率仍旧跟不上消费者物价指数，商业贷款利率也低于生产者水平通胀率。

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Meanwhile, the consumer price index or CPI, a main gauge of inflation, reached 6.4% in June, the highest level in three years.

同时作为通胀重要刻度之一的居民消费指数，或CPI，六月份达到了6.4%，创三年以来的最高水平。

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Before that time, it was basically clear that outside of wartime (when gold-standard conventions were often suspended), you could basically count on the dollar holding its value against major things like the consumer price level, foreign currencies, and commodities such as gold itself.

FORBES: Inequality Is The Child Of Fiat Money

We are starting to see consumer-level inflation, via the Consumer Price Index, creep up in various economies, but, to date, there has been a disconnect between the 4 to 6 percent wholesale-level inflation and the 1 to 2 percent consumer-level inflation.

FORBES: Government Conspiracy To Lowball Inflation?

Our firm has said for some time that at some point, price pressures at the wholesale level would likely surface at the consumer level.

FORBES: Inflation: We Told You So