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MNI BRIEF: China May Inflation In Check, PPI Sharply Eases

MNI (Singapore)
BEIJING (MNI)

China's May consumer price index rose 2.1% y/y, expanding at the same pace as in April, though missing a 2.2% forecast, as sufficient food supply amid smoother logistics tamed prices, data from the National Bureau of Statistics on Friday showed.

Core CPI, excluding food and energy prices, rose 0.9% y/y, remaining flat from April. On a monthly basis, CPI fell 0.2%, reversing the previous 0.4% gain. SEE: MNI BRIEF: China May Prices Likely In Check On Pandemic Curbs

The producer price index measuring factory gate prices further eased for the seventh month to 6.4% y/y from April's 8.0% y/y, even lower than the 6.5% forecast, mainly due to a higher comparison base last year. On a monthly basis, PPI gained 0.1%, decelerating from April's 0.6% as prices in coal-related industries fell on the release of coal production capacity, while prices in metal sectors declined on slower investment growth, the NBS said.

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