China Inflation Stable At 1.2%

(RTTNews) - China's consumer prices logged a steady growth in May and producer price inflation accelerated, official data showed Wednesday.

Consumer prices increased 1.2 percent year-on-year in May, the same rate as seen in April, the National Bureau of Statistics said. This was slightly weaker than forecast of 1.3 percent.

Core inflation that excludes food and energy slowed to 1.1 percent from 1.2 percent in the previous month.

On a monthly basis, consumer prices dropped 0.1 percent in May. Economists had forecast a monthly fall of 0.2 percent.

Another report from the NBS showed that producer prices advanced 3.9 percent after climbing 2.8 percent in April. The rate came in line with expectations.