MarketPR
China's consumer price index climbed just 1.2% year-on-year in May, the National Bureau of Statistics reported, missing the 1.5% consensus and sliding below April's 1.3% print.
Core CPI — stripped of food and energy — came in at 0.6%, exposing the thin demand underpinning of the world's second-largest economy.
What the Miss Actually Says Deflationary pressure doesn't arrive in the headline; it hides in the core. At 0.6%, China isn't running warm — it's running on fumes.
Consumers are holding back despite policy support, and excess industrial capacity keeps producers from passing costs through.
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