China's May CPI up by 2.1%, producer price index up by 6.4%

11 Jun '22

2 min read

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China's consumer price index (CPI)—a primary gauge of inflation—rose by 2.1 per cent year on year (YoY) in May this year, according to the National Bureau of Statistics (NBS), which said the producer price index (PPI), which measures costs for goods at the factory gate, went up by 6.4 per cent YoY in the month. Non-food prices rose by 2.1 per cent YoY compared to the 2.2-per cent rise in April.

On a monthly basis, the CPI edged down 0.2 per cent thanks to effective COVID-19 control and a sufficient supply of consumer goods, Dong Lijuan, a senior NBS statistician was quoted as saying by official Chinese media.

The prices of gasoline, diesel, and liquified petroleum gas went up by 27.6 per cent, 30.1 per cent and 26.9 per cent YoY respectively.

The PPI figure moderated from the 8 per cent YoY increase registered in April. On a monthly basis, PPI gained 0.1 per cent in May compared with the 0.6 per cent increase in April.

Among 40 industrial sectors surveyed, 37 saw price growth in May, the same as that in April, NBS data showed.

The PPI of the gas production and supply industry went up 22 per cent YoY in May, expanding by 1.3 percentage points from April.

ALCHEMPro News Desk (DS)

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