China May CPI +1.5% y-o-y, faster vs April; PPI +5.5% y-o-y, cools for 3rd month

[BEIJING] China's consumer inflation in May picked up to 1.5 per cent from a year earlier, in line with market expectations, the National Bureau of Statistics said on Friday.

The consumer price index (CPI) had been expected to rise 1.5 per cent year-on-year, compared with April's 1.2 per cent gain.

The producer price index rose 5.5 per cent in May from a year earlier, cooling for the third consecutive month.

In April, factory gate prices rose 6.4 per cent from a year ago, slowing from the previous month, driven by persistent declines in iron ore and coal prices amid concerns over cooling demand.

Analysts polled by Reuters had predicted May producer price inflation would be at 5.7 per cent on an annual basis.

REUTERS