China’s Consumer Inflation Sees Slight Decline in May

Doha: China's consumer price index (CPI) edged down 0.1 percent year on year in May. On a monthly basis, the CPI dipped 0.2 percent last month, official data showed Monday.

According to Qatar News Agency, the Chinese National Bureau of Statistics (NBS) reported that falling energy prices were the primary factor behind the decline, contributing 0.47 percentage points to the year-on-year decrease in the CPI.

The core CPI, which excludes food and energy prices, rose 0.6 percent year on year in May, showing an increase from the 0.5 percent rise in April, as noted by the NBS.

A detailed analysis of the data revealed that food prices decreased by 0.4 percent year on year in May, non-food prices remained flat, consumer goods prices fell by 0.5 percent, while service prices increased by 0.5 percent.

During the January-May period, China's CPI averaged a 0.1-percent decline compared with the same period last year, as reported by the NBS.

Monday's data also indicated that China's producer price index (PPI) decreased by 3.3 percent year on year in May, with the decline expanding from a 2.7 percent fall in April.