China consumer inflation rises in May

yen
China consumer inflation rises in May

China’s consumer price index (CPI) in May rose 2.7% from a year ago, the National Bureau of Statistics data showed on Wednesday. The data which is the highest since February 2018 was in line with the expectations. According to a story by CNBC, citing the official data, food prices rose 7.7% in May compared to last year, while non-food prices rose 1.7% on-year. The producer price inflation (PPI) rose 0.6% in May annually, also in line with expectations. According to Nomura International, economic “growth could slow further on escalating US-China trade tensions”. “We expect Beijing to undertake further easing/stimulus measures to bolster confidence and to stabilise growth,” Nomura said in a note.