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China May CPI Rises 1.2% YoY, Slightly Below Expectations
China's National Bureau of Statistics announced that in May, the Consumer Price Index (CPI) rose 1.2% YoY, slightly below market expectations of a 1.3% YoY increase. Among them, ur...
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China May CPI Rises 1.2% YoY, Slightly Below Expectations
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China's National Bureau of Statistics announced that in May, the Consumer Price Index (CPI) rose 1.2% YoY, slightly below market expectations of a 1.3% YoY increase. Among them, urban prices rose 1.3% and rural prices rose 1.1%. Food prices fell 1.7%, while non-food prices rose 1.9%. Prices of consumer goods increased 1.6%, and service prices rose 0.8%. In the first five months, the average CPI increased 1% YoY nationwide.

In May, the CPI edged down 0.1% MoM. Urban and rural prices both fell 0.1%. Food prices declined 0.4%, while non-food prices decreased 0.1%. Prices of consumer goods dropped 0.2%, and service prices fell 0.1%.

Related NewsImports YoY for May in China is 27.4%, higher than the previous value of 25.3%. The forecast was 25%.
In May, prices in the food, tobacco and alcohol as well as dining-out category fell 0.9% YoY, dragging down CPI by about 0.26 ppts. Within food, prices of livestock meat fell 7.4%, including a 16.1% decline in pork prices. Prices of fresh fruit fell 2.2%. Egg prices rose 6.6%, fresh vegetable prices increased 1.6%, and aquatic product prices rose 0.6%.

Among the other seven major categories, six recorded YoY increases while one declined. Prices of other goods and services, transportation and communications, and healthcare rose 9.9%, 5.4% and 2.1%, respectively. Prices of household goods and services, clothing, and education, culture and entertainment increased 1.8%, 1.4% and 1.3%, respectively. Housing prices fell 0.2%.

On a MoM basis, prices in the food, tobacco and alcohol as well as dining-out category fell 0.2%, dragging down CPI by about 0.06 ppts. Within food, fresh vegetable prices fell 3.6%. Prices of livestock meat dropped 0.8%, including a 1.6% decline in pork prices. Egg prices rose 5%, while fresh fruit prices increased 0.6%.

Related NewsOutstanding Loan Growth YoY for May in China is 5.5%, lower than the previous value of 5.6%. The forecast was 5.5%.
Among the other seven major categories, one recorded a MoM increase, two were flat and four declined. Clothing prices rose 0.6%. Prices of education, culture and entertainment, and healthcare were flat. Prices of household goods and services and other goods and services both fell 0.4%, while transportation and communications and housing prices declined 0.3% and 0.1%, respectively. (jl/a)

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