#CPI数据来袭 **CPI Data Release: May Inflation Mild, PPI Decline Narrowed**

In May 2024, China's CPI (Consumer Price Index) rose by 0.3% year-on-year and slightly decreased by 0.1% month-on-month, remaining stable overall. Among them, food prices fell by 2.0% year-on-year, but prices for pork and fresh vegetables have rebounded; non-food prices increased by 0.8%, with stable growth in service prices. The PPI (Producer Price Index) fell by 1.4% year-on-year but rose by 0.2% month-on-month, ending a continuous decline for six months, indicating an improvement in demand in the industrial sector. The National Bureau of Statistics stated that the core CPI rose by 0.6% year-on-year, indicating a mild recovery in the consumer market. Looking ahead, with the implementation of macro policies and a warming of consumer demand, the CPI is expected to rebound mildly in 2025.