A consumer chooses soft drinks at a supermarket in Shanghai, China, March 10, 2016. REUTERS/Aly Song
BEIJING (Reuters) – China’s annual consumer inflation was steady at 1.8 percent in May, unchanged from April and in line with economists’ forecasts, official data showed on Saturday.
The consumer price index (CPI) had been expected to rise 1.8 percent from a year earlier, according to a Reuters poll.
The producer price index (PPI) rose 4.1 percent from a year earlier, accelerating from the previous month’s rise of 3.4 percent, the National Bureau of Statistics (NBS) said on its website.
Analysts polled by Reuters had predicted producer inflation would pick up to 3.9 percent in May.
China has set its 2018 consumer inflation goal at “around 3 percent”, in line with last year’s target.