China's consumer inflation remains stable, while producer prices show signs of improvement, indicating sluggish demand amid an ongoing property downturn.
China ’s consumer inflation remained stable in May, while the decline in producer prices showed signs of easing, indicating sluggish demand amid a prolonged property downturn in the world’s second-largest economy. China ’s consumer price index CPI grew by 0.3 percent year-on-year in May, matching April’s figure and falling slightly short of economists’ expectations. However, on a monthly basis, there was a marginal decline of 0.1 percent in the CPI.
Due to overcapacity, they will probably resume their declines before long, keeping PPI inflation in negative territory for the rest of the year,” said Zichun Huang, China Economist at Capital Economics. “We expect consumer price inflation to rebound in the coming months, thanks to a continued easing of food price deflation and an increase in energy price inflation. However, persistent overcapacity will likely keep this rebound very modest – we expect CPI inflation to average only 0.
Economy Inflation Producer Prices Consumer Prices Property Market COVID-19 Economic Growth GDP Growth Government Measures
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