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China's May producer inflation highest in nearly 4 years, consumer prices also rise

By Reuters Reuters
FILE PHOTO: Employees work at an assembly line producing car smartphone holders at a plastic accessories factory, as rising oil prices drive up production costs for plastic manufacturers, in Dongguan, Guangdong province, China, April 2, 2026. REUTERS/Go Nakamura/File Photo
FILE PHOTO: Employees work at an assembly line producing car smartphone holders at a plastic accessories factory, as rising oil prices drive up production costs for plastic manufacturers, in Dongguan, Guangdong province, China, April 2, 2026. REUTERS/Go Nakamura/File Photo Go Nakamura Reuters

BEIJING - China's producer prices rose for a third straight month in May to the highest since July 2022, while consumer prices also climbed, official data showed on Wednesday, indicating that elevated global energy prices continued to drive up costs for manufacturers and households.

The producer price index (PPI) rose 3.9% from the previous year, National Bureau of Statistics data showed, beating the forecast for a 3.8% increase in a Reuters poll. The rise was steeper than the 2.8% increase in April.

The consumer price index (CPI) increased 1.2% year-on-year, compared with an expected 1.3% rise. The gauge recorded a 1.2% gain the previous month.

On a monthly basis, CPI edged down 0.1%, matching expectations and compared with a 0.3% rise in April.

(Reporting by Yukun Zhang and Liz Lee; Editing by Jacqueline Wong)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published June 9, 2026 at 6:45 PM.

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