China's consumer price index (CPI), the main gauge of inflation, fell 1.4 percent year on year in May; the fourth monthly drop in a row since February. However, the rise of grain prices is likely to affect the prospect of CPI in the period to follow, said the National Bureau of Statistics.
Grain prices have increased by 0.2 percent, 1.0 percent, 1.5 percent, 0.4 percent, and 0.8 percent month by month from January to May.
As grain is used in many food products, the rise in grain prices may have impact on the future development of CPI. However, whether that is the case is yet to be observed.
According to the National Bureau of Statistics on June 10, food prices were down by 0.6 percent year on year in May, with pork prices plummeting 32 percent.
Some service prices also increased in May. For example, cloth processing was up by 3.9 percent, while household service and maintenance was up by 5.5 percent.
Service prices generally went down by 1.3 percent.
Tobacco, alcohol, and heath care prices also increased in May.
By People's Daily Online
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