CPI tail-raising factors; CPI year-on-year growth

(Source: Wind, BFRC) 

May 30 (NBD) -- Warm temperature in May helps drive up vegetable supplies, sending the price of most farm products lower, such as vegetable and meat. Non-food consumer price keeps stable in May, but the growth rate of refined oil price sees the highest year-to-date increase. 

According to BFRC, the financial research center of Bank of Communications, growth rate of non-food price is expected to rebound to 2.2 percent compared with the same period of last month. Meanwhile, the tail-raising factor is roughly 1.34 percent, an increase of 0.11 percent from last month.

Given all those factors, the year-on-year growth rate of CPI in May is expected to range from 1.5 percent to 1.7 percent, a slight decrease from the previous month. BFRC may take the median 1.6 percent.

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