Data from China’s National Bureau of Statistics showed early Monday, June 9, that the annual consumer price index (CPI), a measure of inflation, fell for the fourth consecutive month in May, remaining at -0.1%. Expectations were for a decline of around -0.2%. The index has been in negative territory since February, falling by 0.7%, after declining by -0.1% in February, March, April, and now May.
Conversely, the core index, which excludes volatile food and energy prices, rose by 0.6%, its highest level since January.
Concurrently, China’s producer price index (PPI) fell to 3.3% year-on-year in May, compared to a 2.7% decline in April. Expectations were for a decline of around 3.1%, marking the largest decline since July 2023