AI Data Insight
In May 2026, China's services CPI recorded a year-on-year growth rate of 0.8%, a slight slowdown from the previous value of 0.9%, indicating weak momentum in the recovery of domestic demand. Affected by the decline in travel demand following the May Day holiday, service prices turned to a month-on-month decline. Although upstream PPI reached a new high, end-user consumption has not yet fully emerged from the shadow of deflation. The strength of subsequent policy stimulus has become the focus of the market.