China’s CPI in May up 2.1%, producer price index up 6.4%
On a monthly basis, the CPI edged down 0.2 percent on the back of effective COVID-19 control and ample supply of consumer goods, Dong Lijuan, a senior statistician with the BNS, was quoted by media as saying. Chinese officials.
Gasoline, diesel and liquefied petroleum gas prices rose 27.6%, 30.1% and 26.9% year-on-year, respectively.
China’s consumer price index – a leading gauge of inflation – rose 2.1% year-on-year (YoY) in May, according to the National Bureau of Statistics, which said the index producer price which measures the cost of goods leaving the factory has increased. 6.4% YoY during the month. Prices for non-food items rose 2.1% year-on-year compared to the 2.2% rise in April.
The PPI figure moderated from the 8% year-on-year increase recorded in April. On a monthly basis, the PPI gained 0.1% in May, compared to 0.6% in April.
Of the 40 industry sectors surveyed, 37 saw price growth in May, the same as in April, according to BES data.
The PPI for the gas production and supply industry rose 22% year-on-year in May, rising 1.3 percentage points from April.
Fibre2Fashion (DS) News Desk