China's may inflation rate to stay flat

China's inflation rate in May is likely to stay flat from April due to milder increases in food prices and a lower base of comparison, a latest research by Chinese Bank of Communications (BOCOM) showed. 
The consumer price index (CPI), a main gauge of inflation, will grow 2.3 % year on year in May, level with that in April, according to the BOCOM research report. 
That will put the inflation rate at its highest level since July 2014 for a fourth month. 
Food prices, which account for a fifth of CPI calculation, will post an increase of between 7 and 7.4 %, slightly milder than the growth in April, the report said. 
Meat prices have been elevated by short supply, but the report forecast that frozen Meat reserves and subsidies to sellers will mitigate increases.