Economics
China’s Factory Deflation Deepened in May Amid Slow Recovery
- Pork inflation slows to 82% as output recovers from disease
- Producer prices falling the fastest since March 2016
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China’s factory deflation deepened in May and consumer price gains slowed, signaling that the recovery from the first quarter coronavirus slump remains uncertain.
The decline in the producer price index widened to 3.7% in the month from April’s 3.1%, the National Bureau of Statistics said Wednesday. That compares to the median estimate of a 3.3% drop. The consumer price index rose 2.4% in May from a year earlier, following a 3.3% gain in April, and missing the median forecast for a 2.7% increase.