Chinese CPI inflation shrinks further in May, PPI hits 7-year low
Investing.com-- Chinese consumer inflation contracted in May from the prior month, data showed on Friday, while factory gate inflation sank at its fastest pace in seven years as a slowing post-COVID economic recovery kept spending limited.
CPI sees little support as economy remains weak
Chinas consumer price index (CPI) inflation fell 0.2% in May from the prior month, data from the National Bureau of Statistics showed. This followed a 0.1% month-on-month decline in April.
CPI rose 0.2% in the 12 months of May, missing estimates for a rise of 0.4%, but coming slightly higher than the prior months reading of 0.1%.
Fridays reading follows a string of dismal business activity and trade data prints over the past two weeks, which raised further questions over a slowing economic recovery in the country.