Resident Consumption Prices in May 2024 Rose by 0.3% Year-on-Year

In May 2024, the national consumer price index (CPI) increased by 0.3% year-on-year. In detail, urban areas saw a 0.3% rise, while rural areas experienced a 0.4% increase. Food prices fell by 2.0%, non-food prices rose by 0.8%; consumer goods prices remained stable, and service prices increased by 0.8%. From January to May, the national consumer price index averaged a 0.1% increase compared to the same period last year. In May, the national consumer price index fell by 0.1% month-on-month. Among them, urban and rural areas both fell by 0.1%; food prices were stable, non-food prices fell by 0.2%; consumer goods prices fell by 0.1%, and service prices fell by 0.1%. (Source: National Bureau of Statistics)

National Industrial Producer Prices in May 2024 Decreased by 1.4% Year-on-Year

In May 2024, the national industrial producer prices decreased by 1.4% year-on-year, with the decline narrowing by 1.1 percentage points from the previous month, and increased by 0.2% month-on-month, compared to a 0.2% decrease in the previous month. The industrial producer purchase prices decreased by 1.7% year-on-year, and increased by 0.3% month-on-month. From January to May, the average industrial producer prices fell by 2.4% year-on-year, and the industrial producer purchase prices fell by 3.0%. (Source: National Bureau of Statistics)

Retail Sales of Consumer Goods in May 2024 Grew by 3.7%

In May, the total retail sales of consumer goods reached 3,921.1 billion yuan, a year-on-year increase of 3.7%. Excluding automobiles, the retail sales of consumer goods amounted to 3,533.6 billion yuan, growing by 4.7%. From January to May, the total retail sales of consumer goods were 1,952.37 billion yuan, a year-on-year increase of 4.1%. Excluding automobiles, the retail sales of consumer goods were 1,767.07 billion yuan, up by 4.4%. (Source: National Bureau of Statistics)

National Fixed Asset Investment from January to May 2024 Increased by 4.0%

From January to May 2024, the national fixed asset investment (excluding rural households) was 1,880.06 billion yuan, a year-on-year increase of 4.0% (calculated by comparable method), of which, the private fixed asset investment was 978.1 billion yuan, a year-on-year increase of 0.1%. In terms of month-on-month comparison, the fixed asset investment (excluding rural households) in May fell by 0.04%. (Source: National Bureau of Statistics)

Value Added of Industrial Enterprises Above Designated Size in May 2024 Increased by 5.6%

In May, the actual growth rate of value added of industrial enterprises above designated size was 5.6% year-on-year (the growth rate of value added excludes the impact of price factors). On a month-on-month basis, the value added of industrial enterprises above designated size in May increased by 0.30% compared to the previous month. From January to May, the value added of industrial enterprises above designated size grew by 6.2% year-on-year. (Source: National Bureau of Statistics)