China's May PPI Falls 3.7%... CPI Rises 2.4% (Update)
[Asia Economy Reporter Jeong Hyunjin] China's Producer Price Index (PPI) fell by 3.7% last month. The manufacturing sector continues to suffer significant damage due to the impact of the novel coronavirus disease (COVID-19), resulting in a larger decline compared to April.
On the 10th, the National Bureau of Statistics of China announced that the PPI for May fell by 3.7%. This is the lowest level in four years since March 2016 (-4.3%). The initial market forecast was -3.3%, but the actual figure was worse than expected. This marks the fourth consecutive month of negative (-) readings since February.
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The Consumer Price Index (CPI) rose by 2.4% last month. The CPI also decreased compared to April (3.3%) and was below the market forecast (2.7%). This is the lowest level since March last year (2.3%).
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