China PPI Down 7.2% in May YoY

BEIJING, June 10  -- China's producer price index (PPI), a major measure of inflation at the wholesale level, in May fell 7.2 percent year on year, the National Bureau of Statistics (NBS) announced Wednesday.

    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.

    (Source: Xinhua)