In May, the national industrial producer ex-factory price fell by 1.4% year-on-year, narrowing by 1.1 percentage points from last month, and rose by 0.2% month-on-month, down from 0.2% decline last month; industrial producer purchase prices fell by 1.7% year-on-year, up 0.3% month-on-month. From January to May, the average ex-factory price of industrial producers decreased by 2.4% compared to the same period last year, and industrial producer purchase prices decreased by 3.0%.
On June 12th, Caixin reported that the National Bureau of Statistics stated that in May, the producer's prices for manufactured goods in China decreased by 1.4% year-on-year, a decrease of 1.1 percentage points from the previous month, but rose by 0.2% compared to the previous month, which had declined by 0.2%. The purchase prices for industrial producers decreased by 1.7% year-on-year, but rose by 0.3% sequentially. On average from January to May, producer prices for manufactured goods decreased by 2.4% compared to the same period last year, and industrial producer purchase prices fell by 3.0%.
In May 2024, the year-on-year increase in the population's consumption price was 0.3%.
In May 2024, the year-on-year increase in the national population's consumption price was 0.3%. Among them, the urban area increased by 0.3%, and the rural area increased by 0.4%; food prices fell by 2.0%, non-food prices rose by 0.8%; consumer prices remained stable and service prices rose by 0.8%. From January to May, the national population's consumption price rose by 0.1% compared to the same period last year.
In May, the national population's consumption price fell by 0.1% month-on-month. Among them, the urban area fell by 0.1%, and the rural area fell by 0.1%; food prices remained stable, non-food prices fell by 0.2%; consumer prices fell by 0.1%, and service prices fell by 0.1%.
1. Changes in the prices of various commodities and services year-on-year
In May, the prices of food, tobacco, and alcohol fell by 1.0% year-on-year, affecting the CPI (Consumer Price Index) to decrease by about 0.28 percentage points. Among food, egg prices fell by 7.4%, affecting CPI to decrease by about 0.05 percentage points; fresh fruit prices fell by 6.7%, affecting CPI to decrease by about 0.15 percentage points; The price of livestock and poultry meat fell by 2.2%, affecting CPI to decrease by about 0.07 percentage points, of which pork prices rose by 4.6%, affecting CPI to rise by about 0.05 percentage points; fresh vegetable prices rose by 2.3%, affecting CPI to rise by about 0.05 percentage points; grain prices rose by 0.5%, affecting CPI to rise by about 0.01 percentage points.
The other seven categories of prices increased year-on-year except for one. Of these, prices for other goods and services, education, culture, and entertainment increased by 3.6%, 1.7%, and 1.6%, respectively; prices for medical care, household goods and services, and housing increased by 1.5%, 0.8%, and 0.2%, respectively; and transportation and communication prices decreased by 0.2%.
2. Changes in the prices of various commodities and services month-on-month
In May, the prices of food, tobacco, and alcohol remained unchanged month-on-month. Among food, fresh vegetable prices fell by 2.5%, affecting CPI to decrease by about 0.05 percentage points; the price of livestock and poultry meat fell by 0.4%, affecting CPI to decrease by about 0.01 percentage points, of which pork prices rose by 1.1%, affecting CPI to rise by about 0.01 percentage points; fresh fruit prices rose by 3.0%, affecting CPI to rise by about 0.06 percentage points; egg prices rose by 2.2%, affecting CPI to rise by about 0.01 percentage points.
The other seven categories of prices rose, were unchanged, or fell month-on-month. Among them, prices for clothing and other goods and services rose by 0.4% and 0.1%, respectively; medical care prices remained stable; prices for transportation and communication and household goods and services fell by 0.8% and 0.7%, respectively; prices for housing and education, culture, and entertainment both fell by 0.1%.