China's consumer prices grew 2% in May from one year earlier, official data showed Thursday. 
The National Bureau of Statistics said in a statement that on a month-on-month basis, the consumer price index (CPI), a main gauge of inflation, shrank 0.5 percent in May from April, according to China's (Xinhua) News Agency. 
Meanwhile, China's producer price index (PPI), which measures costs for goods at the factory gate, slid 2.8% year on year in May, official statistics showed on Thursday.