China's consumer inflation in May rose less than in April while producer inflation recovered. According to data released by the National Bureau of Statistics,  the May consumer price index rose 2 percent from a year ago. That's slower than a 2.3 percent increase in April and also below the official target of 3 percent.

The May figure indicates persistently sluggish demand and deflationary pressure. The government also released May's producer price index. It dipped 2.8 percent from a year ago and is less than a 3.4 percent decline in April, indicating easing pressure on the supply side.