The main indicator, the consumer price index (CPI), inflation ChineseUp 0.2% year-on-year in MayThus, the slowdown trend that had been going on since last January was reversed. In April, the indicator dropped the growth rate to 0.1% from 0.7% in March, marking a one-year low. Data presented today by the Office for National Statistics (ONE) was slightly below analysts’ forecasts of 0.3% growth.
ONE statistician Dong Lijuan said on the agency’s website that “consumer demand continues to recover” in the fifth month of the year and the market is “generally stable”. Dong pointed to the annual rise in the price of certain foods, especially poultry (5.6%), oils (3.6%) and fresh fruit (3.4%), and the rise in prices of some transportation vehicles, such as airplanes. tickets are 14.7% more expensive than a year ago. In the month-to-month comparison, consumer prices fell 0.2% from April, and the data fell slightly below analysts’ expectations for a 0.1% drop.
ONE also today released its Producer Price Index (IPP), which measures industrial prices and fell 4.6% year-on-year in May, one percentage point and 0.3 percentage points lower than in April. lower than experts predicted. Dong cited “the downward trend of international commodity prices”, “generally weak domestic and foreign market demand” and the base effect as factors behind the decline in PPI.
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