The latest round of official data indicates that Chinese consumer prices rose by just over 2% in year-on-year (YoY) terms at the end of May.
As of the end of May China’s nationwide consumer price index (CPI) was up 2.1% YoY, according to figures released by the National Bureau of Statistics (NBS).
Urban and rural village inflation both ran at 2.1%, while food prices rose 2.3% YoY, and non-food prices posted an increase of 2.1%. Consumer goods prices rose 3.0%, while services prises saw an increase of 0.7%.
For the period from January to May NBS data points to an average rise in consumer prices of 1.5% compared to the same period last year.
In May Chinese nationwide consumer prices fell by 0.2% compared to April, with a decline of 0.2% in urban areas and 0.1% in rural areas.
Food prices fell by 1.3% compared to the preceding month; non-food prices rose 0.1%, consumer good prices fell 0.3%, and services prices held steady.