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China's May producer inflation highest in nearly 4 years, consumer prices also rise

BY Reuters | ECONOMIC | 09:41 PM EDT

BEIJING, June 10 (Reuters) - China's producer prices rose for a third straight month in May to the highest since July 2022, while consumer prices also climbed, official data showed on Wednesday, indicating that elevated global energy prices continued to drive up costs for manufacturers and households.

The producer price index (PPI) rose 3.9% from the previous year, National Bureau of Statistics data showed, beating the forecast for a 3.8% increase in a Reuters poll. The rise was steeper than the 2.8% increase in April.

The consumer price index (CPI) increased 1.2% year-on-year, compared with an expected 1.3% rise. The gauge recorded a 1.2% gain the previous month.

On a monthly basis, CPI edged down 0.1%, matching expectations and compared with a 0.3% rise in April. (Reporting by Yukun Zhang and Liz Lee; Editing by Jacqueline Wong)

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