China May wholesale inflation hits near 4-year high on Iran war, AI costs; CPI misses

A customer shops for gold jewelry at a gold store in Hangzhou, Zhejiang Province, China, on June 3, 2026. Costfoto | Nurphoto | Getty Images China's wholesale prices rose at the fastest pace in nearly four years in May, driven by surging raw material costs from the Iran war and an artificial intelligence investment boom, while consumer inflation came in below estimates. …