China's CPI records a slight increase in May 2023: NBS

11 Jun '23

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China's consumer price index (CPI) increased by 0.2 per cent YoY in May 2023, a rise from the 0.1 per cent increase in April 2023, as per the National Bureau of Statistics (NBS).
However, prices fell 0.2 per cent on a monthly basis.
The country Core CPI, which excludes the volatile food and energy prices, in was up by 0.6 per cent YoY in May 2023.

China's consumer price index (CPI), an essential measure of inflation, saw a marginal rise of 0.2 per cent year-on-year (YoY) in May 2023, according to data released by the National Bureau of Statistics (NBS).

This small growth in CPI was a slight improvement from the 0.1 per cent increment recorded in April.

The year-on-year (YoY) price increase was mainly due to a high base in the corresponding period of 2022, said Chinese media reports quoting the NBS.

However, when compared to the previous month, the prices in May fell slightly by 0.2 per cent, a slight expansion from the 0.1 per cent decline reported in April.

Notably, the core CPI, which excludes the volatile food and energy prices, experienced an uptick of 0.6 per cent from a year earlier.

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