BEIJING (Reuters) – China's consumer price hike accelerated in May at its fastest pace in more than a year, but producer price inflation slowed as a result of weak demand for commodities and a slowdown in manufacturing activity, fueling concerns about health in the Chinese economy.
The producer price index (PPI) rose 0.6% last month on a yearly basis, according to official statistics released on Wednesday, in line with the expectations of analysts polled by Reuters after a gain of 0.9 % in April. .
These data, closely monitored by analysts and investors, are considered a barometer of industrial demand.
In a context of increasing trade tensions between the United States and China, observers fear that the Sino-US conflict could trigger a global recession.
Chinese exports rose again in May, despite all expectations, despite rising US tariffs, but imports showed the biggest drop in almost three years, show other official statistics released this week.
According to National Statistics Department data released on Wednesday, the consumer price index (CPI) rose 2.7% in May in a year, consistent with the consensus, but at its fastest pace since February 2018 driven by rising pork prices.
On a monthly basis, consumer prices remained stable after rising 0.1% in April. (Hong Kong Office, Jean Terzian for the French service)