China's consumer inflation eased in May on retreating food prices as the country restored work and production as the new coronavirus infections slowed, official data showed today, Xinhua reports. On a monthly basis, consumer prices fell by 0.8 percent. Food prices, which account for nearly one-third of weighting in the index, dropped by 3.5 percent last month. Vegetable prices fell by 12.5 percent from April over rising supplies. Compared with the same period last year, food prices remained the main driver of consumer inflation in May, while the growth rate tapered from April to 10.6 percent.

Source: The Standard June 10, 2020 03:56 UTC