China’s CPI hit a new 34-month high in May

Industrial production grows steadily

In May, the industrial added value above designated size increased by 13.3% year-on-year, and the growth rate dropped by 0.1% from April. From January to May, the value-added of industrial enterprises above designated size increased by 14.0% year-on-year, and the growth rate decreased by 0.2% from January to April. From a month-on-month perspective, the added value of industries above designated size increased by 1.03% in May.

In terms of economic types, in May, state-owned and state-controlled enterprises increased by 8.9% year-on-year, collective enterprises increased by 9.5%, joint-stock enterprises increased by 15.2%, and foreign-invested companies and Hong Kong, Macao, and Taiwan invested companies increased by 9.5%. Looking at light and heavy industries, in May, heavy industry rose 13.5%, and light industry increased 12.9%.

In terms of sub-sectors, in May, 39 major industries all maintained year-on-year growth. Among them, the textile industry grew by 7.0%, the chemical materials and chemical products manufacturing industry increased by 13.0%, the non-metal mineral products industry increased by 18.5%, the general equipment manufacturing industry increased by 18.9%, the transportation equipment manufacturing industry increased by 7.8%, and the electrical machinery and equipment manufacturing. The industry grew by 14.2%, communications equipment, computers and other electronic equipment manufacturing increased by 11.4%, power and heat production and supply increased by 10.9%, and ferrous metal smelting and rolling processing industry increased by 9.0%.

From a product perspective, in May, 378 products out of 468 products increased year-on-year. Among them, natural crude oil was 17.43 million tons, an increase of 1.4%; power generation was 377.5 billion kwh, an increase of 12.1%; crude steel was 60.25 million tons, an increase of 7.8%; cement was 196.28 million tons, an increase of 19.2%; and 1.43 million automobiles, a decrease of 1.9%. Among them, 760,000 cars were sold, an increase of 3.3%.

In May, the sales rate of industrial enterprises was 98.1%, which was an increase of 0.4 percentage points from the same month of last year. Industrial enterprises achieved export value of 850 billion yuan, a year-on-year increase of 14.9%.

Investment in fixed assets maintained rapid growth

From January to May, fixed-asset investment (excluding rural households) was 902.55 billion yuan, a year-on-year increase of 25.8%, and the growth rate was 0.4 percentage points higher than that in the first four months. Among them, the state-owned and state-controlled investment was 3.1497 trillion yuan, an increase of 14.9%. From a month-on-month perspective, fixed asset investment (excluding rural households) increased by 1.02% in May.

From the project affiliation relationship, from January to May, the central project investment was 567 billion yuan, an increase of 0.3% year-on-year; local project investment was 8.4584 trillion yuan, an increase of 28.0%. Among the registration types, from January to May, the investment of domestic-funded enterprises was 837 billion yuan, up 26.7% year-on-year; that of Hong Kong, Macao and Taiwan was 305.3 billion yuan, up 25.6%; foreign investment was 314.1 billion yuan, an increase of 15.7%.

In terms of sub-sectors, from January to May, investment in the primary industry increased by 15.6% year-on-year, investment in the secondary industry increased by 26.3%, and investment in the tertiary industry increased by 25.9%. In the industry, from January to May, the investment in electricity and heat production and supply was 334.8 billion yuan, an increase of 5.0%; the investment in oil and natural gas extraction was 72.8 billion yuan, an increase of 2.2%; the investment in railway transportation was 184.6 billion yuan, an increase of 18.3%. %.

From the perspective of construction and new projects, from January to May, the total planned investment for construction projects was 4,227.6 billion yuan, a year-on-year increase of 16.5%; the total planned investment for newly started projects was 7900.5 billion yuan, an increase of 6.3% year-on-year.

From the perspective of funds in place, from January to May, 1,169.1 billion yuan were in place, an increase of 21.3% year-on-year. Among them, the state budget funds increased by 10.9%, domestic loans increased by 10.9%, self-raised funds increased by 27.8%, and foreign capital utilization increased by 12.5%.

Consumer prices continue to rise

In May, consumer prices rose by 5.5% year-on-year. Among them, cities rose 5.3%, rural areas rose 6.0%; food prices rose 11.7%, non-food prices rose 2.9%; consumer goods prices rose 6.2%, service prices rose 3.9%. In terms of categories, food prices rose by 11.7% year-on-year, prices of tobacco, alcohol, and supplies rose by 2.6% year-on-year, clothing prices rose by 1.8%, prices of household equipment supplies and maintenance services rose by 2.5% year-on-year, and prices of healthcare and personal care products increased year-on-year. The price of transportation and communications rose by 0.7% year-on-year to 0.7% year-on-year, while that of entertainment education and cultural goods and services rose by 0.6% year-on-year. The housing price rose by 6.1% year-on-year. From January to May, consumer prices rose by 5.2% year-on-year.

In May, consumer prices rose by 0.1%. Among them, cities rose 0.1%, rural areas rose 0.1%; food prices fell 0.3%, non-food prices rose 0.2%; consumer goods prices rose 0.1%, service prices rose 0.1%. By category, food prices fell 0.3% month-on-month, with fresh vegetables falling 9.3% month-on-month; prices of tobacco, alcohol, and supplies rising 0.3% month-on-month; clothing prices rising 0.5% month-on-month; prices of home equipment supplies and maintenance services rising 0.3% month-over-month Health care and personal care products prices rose by 0.4% month-on-month; transportation and communications prices rose by 0.1% month-on-month; entertainment, education, cultural goods and services prices remained flat month-on-month; residential prices rose by 0.2% month-on-month.

Industrial producer's ex-factory price increase flat

In May, the ex-factory price of industrial producers rose by 6.8% year-on-year, unchanged from April. In terms of sub-categories, the ex-factory price of production materials rose by 7.5%, of which mining industry rose by 17.1%, raw materials rose by 9.9%, processing industry rose by 5.4%, and ex-factory prices of living materials rose by 4.6%, of which foodstuffs rose by 8.3% and clothing rose by 4.4. %, general daily necessities rose 4.4%, durable consumer goods fell 0.5%. In May, the ex-factory prices of industrial producers increased by 0.3% month-on-month. From January to May, the ex-factory prices of industrial producers rose by 7.0% year-on-year.

In May, the purchase price of industrial producers increased by 10.2% year-on-year. Among them, the purchase price of non-ferrous metal materials rose by 14.5%, fuel power rose by 11.7%, chemical materials rose by 11.6%, and ferrous metal materials rose by 9.4%. In May, the purchase price of industrial producers rose by 0.5% month-on-month. From January to May, the purchase price of industrial producers rose by 10.2% year-on-year.