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China's consumer price index, a main gauge of inflation, rose 1.3 percent year on year in May.
Meanwhile, the producer price index, which measures industrial profitability, went up 9 percent year on year.
The World Bank is predicting the Chinese economy will grow by 8.5 percent in 2021.
The projection was made in the World Bank's latest Global Economic Prospects released on Tuesday.
The World Bank says China's ability to contain the pandemic quickly, its policy support, and the recent pickup in global trade have helped support China's strong recovery.
The semiannual report says the global economy is expected to expand by 5.6 percent this year.
The U.S. Senate has approved a bill that aims to boost U.S. semiconductor production and the development of artificial intelligence and other technology.
"On this vote, the ayes are 68, the nays are 32. The 60 vote threshold having been achieved. The bill is passed."
The centerpiece of the bill is a 50 billion U.S.-dollar emergency allotment to the Commerce Department to stand up semiconductor development and manufacturing through research and incentive programs previously authorized by Congress.
The bill now heads to the House of Representatives.
President Joe Biden has applauded the move, saying he looks forward to signing it into law as soon as possible.
More than 800 suspects have been arrested in a global sting operation that involved police raids in 16 nations.
The arrests came after criminal gangs divulged plans for moving drug shipments and carrying out killings on a secure messaging system secretly run by the FBI.
Law enforcement agencies also seized 32 tons of various drugs, 250 firearms, 55 luxury cars and more than 148 million US dollars in cash and cryptocurrencies in the raids.
The operation was led by the FBI with the involvement of Europol and other law enforcement agencies in several countries.
It began in 2018 when devices with secure-messaging platform ANOM were secretly provided to criminals operating in several countries.
The United Nations Security Council has endorsed Secretary-General Antonio Guterres for a second term.
The General Assembly is likely to hold a session on June 18 on Guterres' appointment for another five years starting Jan. 1.
Guterres was the only official candidate as no state nominated any contender.
The former Portuguese prime minister became the ninth UN chief in 2017.
Two individuals have been arrested after French President Emmanuel Macron was slapped during a visit to a small town in southeast France.
A published video shows Macron was walking towards a cheering crowd and greeting a man, who slapped him in the face.
Macron's office has confirmed the video.
The president said he had not feared for his safety, and that nothing would stop him carrying out his job.
The man accused of slapping Macron and the one who allegedly filmed the incident have both been arrested.
