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China CPI for June 0.0% y/y (expected 0.2%) & PPI -5.4% y/y (expected -5.0%)
CPI and PPI both reflect weak demand in China. Both dropping from the May y/y figure. June CPI 0.0% y/y • Expected +0.2%, prior +0.2%. • For the m/m -0.2%. June PPI -5.4% y/y ... wholesale level deflation digs itself deeper into the hole • Expected -5%, prior -4.6%. • For the m/m, -0.8%. USD/CNH popped on the data: chart
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China’s June inflation data misses expectations
China’s producer prices sank more than expected, official data showed Monday, underscoring the challenges that beset the world’s second-largest economy in revitalizing growth momentum. Producer prices sank 5.4% in June from a year earlier, according to China’s National Bureau of Statistics. This was weaker than a Reuters poll that had expected a 5.0% decline, compared with the 4.6% decline in May. Annual consumer price inflation was flat in June, weaker than expectations for a 0.2% rise in a Reuters poll and the 0.2% rise in May. Monthly consumer price inflation in June was weaker 0.2%, weaker than expectations ... (full story)
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China factory gate deflation deepens in June on weak demand
China's factory gate deflation deepened in June and missed expectations, while consumer prices were unchanged, data showed on Monday, as a faltering post-COVID recovery weighed on demand. The producer price index (PPI) fell for a ninth consecutive month, down 5.4 per cent from a year earlier after a 4.6 per cent drop the previous month. That compared with a forecast for a 5.0 per cent fall. The consumer price index (CPI) stood was unchanged year-on-year, compared with the 0.2 per cent gain seen in May, the National Bureau of Statistics (NBS) said. The missed lagged the median estimate of a 0.2 per cent rise in a ... (full story)
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