China's Inflation At 4-Month High; Producer Price Inflation Eases
09 Juin 2017 - 3:23AM
RTTF2
China's inflation accelerated to a four-month high in May, while
producer prices grew at the slowest pace seen so far this year due
to weak commodity prices.
Inflation rose to 1.5 percent in May, in line with expectations,
from 1.2 percent in April, data from the National Bureau of
Statistics showed Friday. This was the fastest since January, when
prices climbed 2.5 percent.
Inflation was well below the government's target of around 3
percent for the whole year of 2017.
Food prices fell 1.6 percent after easing 3.5 percent a month
ago. Meanwhile, non-food prices rose 2.3 percent versus 2.4 percent
increase in April.
Month-on-month, consumer prices slid 0.1 percent, offsetting
April's 0.1 percent rise.
Another report from NBS showed that producer price inflation
slowed notably to 5.5 percent in May from 6.4 percent in April.
A similar slower pace of increase was last seen in December.
Prices were expected to gain 5.6 percent in May.
On a monthly basis, producer prices fell 0.3 percent, following
a 0.4 percent decline in April. This was the second consecutive
drop in prices.
Looking ahead, Julian Evans-Pritchard, an economist at Capital
Economics, said consumer price inflation will remain fairly stable
over the coming quarters thanks to a further recovery in food price
inflation.
However, price pressures elsewhere are expected to continue to
ease as economic activity slows, disappointing hopes for a
sustained period of reflation that would help erode corporate debt
burdens, the economist added.
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