The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Tuesday. The Chinese consumer price index (CPI) rose at annual rate of 1.2% in May, missing expectations for a 1.3% increase, after a 1.5% gain in April.
Food prices rose at an annual rate of 1.6% in May, while non-food prices increased 1.0%. On a monthly basis, consumer price inflation fell 0.2% in May.
The Chinese producer price index (PPI) dropped 4.6% in May, missing forecasts of a 4.5% fall, after a 4.6% decline in April.
On a monthly basis, producer price inflation decreased 0.1% in May.