China CPI increased 2.7% yoy in May
The National Bureau of Statistics of China announced that the national consumer price index of May increased for 2.7% year-on-year, with index for cities increasing for 2.7%, index for rural areas 2.8%, food prices 7.7%, non-food prices 1.6%. Prices of consumables increased for 3.2%, while service price increased for 1.9%. For the first five months of this year, the national CPI increased by 2.2% year-on-year.
On a monthly basis, the national CPI was flat in May, with cities flat, rural areas increased by 0.1%; food prices increased by 0.2%, non-food prices being flat; consumer prices increased 0.1% and service prices increased 0.1%.
Prices of a number of food items showed a year-on-year increase. Among them, the prices of fresh fruit and fresh vegetables increased by 26.7% and 13.3% respectively. The price of livestock meat increased by 12.5%, eggs by 8.7%, and poultry meat by 6.4%.
The nationwide PPI increased 0.6% year-on-year, and 0.2% month-on-month.