Official data indicates that China’s consumer price index (CPI) saw year-on-year growth of 1.8% in the month of May.
Data from the National Bureau of Statistics indicates that the China’s CPI growth in May held steady with the reading for April.
China’s CPI is composed of eight main sub-indices, all of which saw YoY gains last month.
Food, tobacco and alcohol prices posted an increase of 0.7%, contributing to a CPI gain of approximately 0.21 percentage points.
Egg prices and vegetable prices saw especially strong gains of 20.8% and 10% respectively. Poultry prices saw a gain of 6.4%, while other meat posted a decline of 9.3%, including a drop in pork prices of 16.7%.
Medical treatment, residential and education, culture and entertainment prices saw increase of 5.1%, 2.2% and 1.9%.