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    Chinese consumer price index rises at annual rate of 1.2% in May

    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.

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