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China's consumer prices rise for 4th consecutive month in May

14 Jun '24
1 min read
China's consumer prices rise for 4th consecutive month in May
Pic: Adobe Stock

Insights

  • China's consumer prices rose for the fourth consecutive month in May, with the CPI up 0.3 per cent year-on-year, according to the NBS.
  • The core CPI, excluding food and energy, increased by 0.6 per cent.
  • Monthly, the CPI dipped 0.1 per cent after a 0.1 per cent rise in April.
  • The PPI, measuring factory gate costs, fell 1.4 per cent year-on-year.
China's consumer prices continued their upward trend for the fourth consecutive month in May, according to the National Bureau of Statistics (NBS). The consumer price index (CPI), a key measure of inflation, increased by 0.3 per cent year-on-year (YoY) last month.

The core CPI, which excludes volatile food and energy prices, rose by 0.6 per cent. However, on a monthly basis, the CPI slightly declined by 0.1 per cent in May, a softening from the 0.1 per cent increase recorded in April. This decrease was less pronounced than the 0.2 per cent average drop seen in the same period over the past decade.

Meanwhile, China's producer price index (PPI), which tracks the cost of goods at the factory gate, decreased by 1.4 per cent YoY in May, as per the NBS.

Fibre2Fashion News Desk (DP)

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