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China's consumer prices maintained stable momentum in May.
A flying car factory begins operation in Guangzhou
and prospects for a ceasefire between Iran and the United States grow dim as they trade retaliatory attacks.
Hello and welcome to World Today.
I'm Do Hongyu in Beijing.
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Our first story.
The National Bureau of Statistics says China's consumer prices saw mild growth in May.
Consumer price index rose 1.2% year last month, while core CPI,
which excludes volatile food and energy prices, edged up 1.1%.
The producer price index, which measures costs for goods at the factory gate, rose 3.9%.
For more, we're joined by Yao Shuji, a Chang Kong professor of economics at Chongqing University.
Thank you very much for joining us, Professor.
First of all, China's CPI rose 1.2% last month.
What does this tell us about the current state of consumer demand and economic recovery?
It is a continuing growth of the CPI above the 1% level.
So 1.2% is encouraging in a sense that consumers confidence is coming back steadily.
That is a continuation of the previous months.