KONTAN.CO.ID - BEIJING. China's factory-gate inflation cooled to its slowest pace in 14 months in May, official data showed on Friday, depressed by weak demand for steel, aluminium and other key industrial commodities due to tight COVID-19 curbs. The producer price index (PPI) rose 6.4% year-on-year, the National Bureau of Statistics (NBS) said in a statement, after the 8.0% rise in April, and in line with forecasts in a Reuters poll. It was the weakest reading since March 2021. The consumer price index (CPI) gained 2.1% from a year earlier in May, in line with April's growth. In a Reuters poll, the CPI was expected to rise 2.2%.
China's Producer Inflation Eases to 14 Month Low in May
KONTAN.CO.ID - BEIJING. China's factory-gate inflation cooled to its slowest pace in 14 months in May, official data showed on Friday, depressed by weak demand for steel, aluminium and other key industrial commodities due to tight COVID-19 curbs. The producer price index (PPI) rose 6.4% year-on-year, the National Bureau of Statistics (NBS) said in a statement, after the 8.0% rise in April, and in line with forecasts in a Reuters poll. It was the weakest reading since March 2021. The consumer price index (CPI) gained 2.1% from a year earlier in May, in line with April's growth. In a Reuters poll, the CPI was expected to rise 2.2%.