May inflation data points to ongoing demand weakness
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On Wednesday, China's stats bureau (NBS) released monthly inflation data for May:
The consumer price index (CPI) grew 0.3% y/y, the same pace as last month.
The producer price index (PPI) fell 1.4% y/y, a slower decline than April’s 2.5% fall.
Producer prices have now fallen for 20 consecutive mon...