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China PPI down 7.2% in May year on year

China's producer price index, a major measure of inflation at the wholesale level, in May fell 7.2 percent year on year, the National Bureau of Statistics announced today.

The decline compared with a 6.6-percent drop in April and a 4.6-percent fall in the first quarter from the same period last year.

Prices of production materials fell 8.8 percent in May year on year, the NBS said in a statement.

The PPI for January-May fell 5.5 percent over the same period last year, it said.

The NBS also announced the consumer price index for May was down 1.4 percent year on year.


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