China's producer prices rose for a third straight month in May to the highest since July 2022, while consumer prices also climbed, official data showed on Wednesday.

The producer price index (PPI), which measures costs for goods at the factory gate, rose 3.9 percent from the previous year, National Bureau of Statistics data showed, beating the forecast for a 3.8 percent increase in a Reuters poll.

The rise was steeper than the 2.8 percent increase in April.

The consumer price index (CPI), a main gauge of inflation, rose 1.2 percent year on year in May, official data showed.

Pork prices fell by 16.1 percent. Non-food prices rose by 1.9 percent, affected by lower base figures from the same period last year, with gasoline prices rising by 23.5 percent.

On a monthly basis, CPI edged down 0.1 percent, matching expectations and compared with a 0.3 percent rise in April.

Analysts say the figures indicated that elevated global energy prices continued to drive up costs for manufacturers and households. (Reuters & Xinhua)



Edited by Raymond Yeung