Chinese consumer inflation picked up in May following a dip in April that had raised concerns about the danger of deflation in the world’s second-largest economy.
The headline consumer price index rose 2.5 per cent from a year earlier, compared with a 1.8 per cent increase in April, but remained well below the government’s “upper limit” target of 3.5 per cent for the year. Producer prices also ticked higher but remained in deflationary territory, where they have been for more than two years.
While politically sensitive consumer inflation remains low and relatively stable, Beijing’s recent efforts to support flagging growth through looser monetary policy could be complicated if price increases start to accelerate.
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