China’s Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May after declining 0.1% in April, the National Bureau of Statistics of China reported on Monday. The market consensus was for a 0.2% decrease in the reported period.
Chinese CPI inflation came in at -0.2% MoM in May versus April’s 0.1% increase.
China’s Producer Price Index (PPI) fell 3.3% YoY in May, following a 2.7% decline in April. The data came in lower than the market consensus of 3.2%.
Market reaction to China’s inflation data
At the press time, the AUD/USD pair is up 0.30% on the day to trade at 0.6507.
