China's May CPI Up 0.3% YoY, Below Expectations

China's National Bureau of Statistics announced on the 12th that the Consumer Price Index (CPI) in May rose by 0.3% year-on-year.

It increased for the fourth consecutive month following the previous month's 0.3%, but fell short of the market expectation of 0.4%. Compared to the previous month, it decreased by 0.1%.

Production equipment of a company located in Yancheng, Jiangsu Province, China
[Image source=Xinhua News Agency]

Food prices fell by 2.0%, while non-food prices rose by 0.8%. By category, prices of food, tobacco, and alcohol decreased by 1.0% year-on-year. Eggs dropped by 7.4%, and fresh fruits by 6.7%. Fresh vegetables rose by 2.3%, pork by 4.6%, and seafood by 0.1%.

During the same period, the Producer Price Index (PPI) fell by 1.4%, exceeding the market expectation of -1.5%.

This content was produced with the assistance of AI translation services.