- Consumer price index in China were down –1.4% on year in may, falling for the 4th straight month.
- Data was roughly inline with analyst expectations for a 1.3% decline after the –1.5% decline in April.
- Food priced down –0.6% YoY
- Non-food prices fell –1.7% YoY
- Excluding food and energy inflation was down –1.3%
- Among individual components
- Grain +5.0%
- Meat and poultry –15.5%
- Eggs +3.4%
- Vegetables +22.2%
- Fruit +13.6%
- Tobacco & alcohol +1.4%
- Transportation equipment –2.2%
- Vehicle fuel and component –6.7%
- Telecommunications equipment –18.8%
- Residential water, electricity, fuel –3.6%
- MoM inflation eased –0.3% compared to April.
Based on these specific spending patterns it does seem like the trend is still in necessities which is why alot of consumer staple items are showing signs of inflation while alot of the utilities and compliments to utilities are still on a decline.
Source: RTT News
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