The national Consumer Price Index (CPI) in the Chinese mainland has been on an upward trajectory since January, signaling a revival in consumer spending. According to data released by the National Bureau of Statistics (NBS) on June 12, the CPI rose by 0.3 percent year-on-year in May, marking the fourth consecutive month of growth.
Starting with a decline of 0.8 percent in January, the CPI rebounded to a 0.7 percent increase in February, dipped slightly to 0.1 percent in March, and climbed again to 0.3 percent in April. This wave-like pattern reflects a continued moderate rise in consumer prices, which is often seen as a key indicator of the national economy's health and the expansion of domestic demand.
Supporting this trend are improvements in employment and rising incomes among urban and rural residents. NBS data reveals that the urban unemployment rate in April stood at five percent, a decrease of 0.2 percentage points both year-on-year and month-on-month. Additionally, the first quarter saw the per capita disposable income of national residents reach 11,539 yuan ($1,590), representing a real increase of 6.2 percent after adjusting for price factors. This growth outpaces the overall economic expansion during the same period, laying a robust foundation for further consumption growth.
Reference(s):
cgtn.com
