China’s Producer Price Index (PPI) year-on-year increase in May hit its highest in nearly 13 years, according to data released by the Chinese Communist Party (CCP). Officials blamed monetary easing policies in Europe and the United States in response to the global CCP virus pandemic, which broke out in Wuhan, China, in late 2019. PPI reflects the change, trend, and range of the ex-factory price of industrial enterprise products when sold for the first time, and is one of the important indicators reflecting inflation. China’s PPI in May was 9 percent higher than in May 2020, the largest year-on-year increase since September 2008, according to a report by the National Bureau of Statistics (NBS) on June 9. According to the report, prices of food, clothing, and other essential livelihood products rose only 0.5 percent year on year—a small impact on PPI growth. However, prices of means of production increased by …