Prices of manufacturers in China grew in May by 4.1%

Producer prices in China rose in May by 4.1% in annual terms, data of the Office for National Statistics showed. Compared with the annual growth of 3.4% in the previous month, the price increase in May accelerated, which is observed for the second month in a row on the back of a significant increase in commodity prices. Analysts had expected the growth rate of 3.9%. Compared with April, producer prices in May increased by 0.4% after a decrease of 0.2% a month earlier. Commodities in May increased by 7.4% in annual terms, whereas in April prices for them increased by 5.7%. However, it is expected that producer price growth in 2018 will slow down to 3.3% compared to a rise of 6.3% in 2017.

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