Business

China May PPI +9.0per cent year on year, CPI up 1.3per cent

China's factory gate prices increased at the fastest pace since September 2008, official data showed on Wednesday, while consumer inflation also accelerated but at a slower-than-expected rate.

FILE PHOTO: People walk along Nanjing Pedestrian Road during the Labour Day holiday in Shanghai
FILE PHOTO: People walk along Nanjing Pedestrian Road, a main shopping area, in Shanghai, China May 5, 2021. REUTERS/Aly Song

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BEIJING: China's factory gate prices increased at the fastest pace since September 2008, official data showed on Wednesday, while consumer inflation also accelerated but at a slower-than-expected rate.

The producer price index (PPI) rose 9.0per cent from a year earlier in May, according to a statement from the National Bureau of Statistics. Analysts in a Reuters poll had expected the PPI to rise 8.5per cent after a 6.8per cent increase in April.

The consumer price index (CPI) rose by 1.3per cent from a year earlier, the statistics bureau said. Analysts in the poll had expected the CPI to rise 1.6per cent after a 0.9per cent increase in April.

(Reporting by Liangping Gao, Stella Qiu and Ryan Woo)

Source: Reuters