The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Thursday. The Chinese consumer price index (CPI) rose at annual rate of 2.0% in May, missing expectations for a 2.3% increase, after a 2.3% gain in April.

Food prices rose at an annual rate of 5.9% in May, while non-food prices increased 1.1%.

On a monthly basis, consumer price inflation decreased 0.5% in May, after a 0.2% fall in April.

The Chinese producer price index (PPI) dropped 2.8% in May, beating expectations for a 3.3% fall, after a 3.4% decline in April.