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China

China's CPI increased by 0.3% year-on-year in May

2024-06-12   

The National Bureau of Statistics released data on the 12th, stating that in May, the National Consumer Price Index (CPI) increased by 0.3% year-on-year, the same increase as the previous month; A month on month decrease of 0.1%. Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, said that in May, the overall operation of the consumer market was stable, and the national CPI decreased seasonally on a month on month basis, with the same year-on-year increase as last month. Excluding food and energy prices, the core CPI increased by 0.6% year-on-year, continuing to maintain a moderate increase. Statistics show that in May, food prices decreased by 2.0% year-on-year, a decrease of 0.7 percentage points compared to the previous month. In terms of food, the prices of pork, freshwater fish, and fresh vegetables have increased by 4.6%, 3.3%, and 2.3% respectively, all of which have expanded; The prices of eggs, fresh fruits, and edible oil have decreased by 8.5%, 6.7%, and 5.1% respectively, with the decline narrowing; The prices of beef, lamb, and poultry have decreased by 12.9%, 7.5%, and 2.9% respectively, with the decline continuing to expand. In May, non food prices increased by 0.8% year-on-year, a decrease of 0.1 percentage points from the previous month. In non food sectors, energy prices have risen by 3.4%, with a decrease of 0.2 percentage points; The prices of industrial consumer goods, excluding energy, increased by 0.1%, with a decrease of 0.3 percentage points. Among them, the prices of new energy cars and fuel cars decreased by 6.9% and 5.2% respectively, with both reductions expanding; The service prices have increased by 0.8%, the same increase as last month, with prices for both family services and education services rising by 1.8%, with a slight increase. In May, the National Producer Price Index (PPI) for industrial producers decreased by 1.4% year-on-year, which was 1.1 percentage points narrower than the previous month; The month on month increase was 0.2%, compared to a decrease of 0.2% last month. (Lai Xin She)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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