BEIJING (Reuters) – Producer prices in China fell faster than expected in May as weak global demand weighed on industrial production.
The producer price index (PPI) fell 4.6% year on year in May, after falling 3.6% the previous month, according to data released Friday by the National Bureau of Statistics ( SNB).
Analysts polled by Reuters expected a decline of 4.3%.
The consumer price index (CPI) rose 0.2% year on year last month, after rising 0.1% in April. Analysts, however, expected an increase of 0.3%.
China’s economy grew faster than expected in the first quarter, but recently released economic data shows that manufacturing activity contracted and imports fell in May.
(Report Joe Cash; French version Camille Raynaud)
Copyright © 2023 Thomson Reuters