ID :
188342
Tue, 06/14/2011 - 06:59
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https://oananews.org//node/188342
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China's consumer prices grow 5.5 pct in May
By Kim Young-gyo
HONG KONG, June 14 (Yonhap) -- China's consumer prices rose 5.5 percent in May from a year earlier to a 34-month high due to soaring food costs, government data showed Tuesday.
Last month's growth in the consumer price index (CPI) was up from a 5.3 percent gain in April, China's National Bureau of Statistics said. China's inflation gauge grew more than 5 percent for the third straight month.
May's consumer inflation rate was in line with the upper range of market estimates of 5.2-5.5 percent.
Food prices led the overall CPI growth, jumping 11.7 percent compared to the same month a year earlier, while non-food prices rose 0.2 percent.
The agency also said the country's producer price index rose 6.8 percent on-year in May.
The Chinese government is expected to continue to maintain its tightening measures, putting its top policy priority on reining in runaway inflation.
The People's Bank of China, the central bank, in April raised the benchmark interest rate for the second time this year. It also hiked the deposit reserve requirement ratio for its major banks five times in 2011.
ygkim@yna.co.kr
(END)
HONG KONG, June 14 (Yonhap) -- China's consumer prices rose 5.5 percent in May from a year earlier to a 34-month high due to soaring food costs, government data showed Tuesday.
Last month's growth in the consumer price index (CPI) was up from a 5.3 percent gain in April, China's National Bureau of Statistics said. China's inflation gauge grew more than 5 percent for the third straight month.
May's consumer inflation rate was in line with the upper range of market estimates of 5.2-5.5 percent.
Food prices led the overall CPI growth, jumping 11.7 percent compared to the same month a year earlier, while non-food prices rose 0.2 percent.
The agency also said the country's producer price index rose 6.8 percent on-year in May.
The Chinese government is expected to continue to maintain its tightening measures, putting its top policy priority on reining in runaway inflation.
The People's Bank of China, the central bank, in April raised the benchmark interest rate for the second time this year. It also hiked the deposit reserve requirement ratio for its major banks five times in 2011.
ygkim@yna.co.kr
(END)
