Chinese inflation for May, wall-to-wall at the producer level:
2020 Nian 5 months, the decline in the country’s industrial producer prices up 3.7% , a decline of 0.4% ; industrial producer purchase prices fell year on year by 5.0% , a decline of 1.2% . 1 – 5 monthly average, industrial producer prices fell year on year by 1.7% , industrial producer purchase prices fell 2.2%
Improved month on month at least but it’s everywhere:
CPI has been more sticky but is coming off fast now:
In May 2020 , national consumer prices rose by 2.4% year-on-year . Among them, urban prices rose 2.3% , rural areas rose 3.0% ; food prices rose 10.6% , non-food prices rose 0.4% ; consumer goods prices rose 3.3% , and service prices rose 1.0% . 1 – 5 monthly average, the national consumer prices rose year on year by 4.1%.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
