China CPI & PPI for November
CPI: For the y/y, +1.4%
- expected +1.6%,
- prior was +1.6%
CPI m/m -0.2% (0.0% expected) … the NBS saying it may be weather-related
PPI y/y: -2.7%
- expected -2.4%,
- prior was -2.2%
PPI -0.5% m/m
That’s 33 months of negatives (i.e. deflation) for the PPI
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Inflation is weak pretty much everywhere … China no different. But, hey … inflation isn’t standing in the way of further stimulus is the authorities feel that way inclined.
NZD and AUD both scraping along at session lows
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Added … comments from National bureau of Statistics spokesman:
- Fall in crude oil price contributed to China’s CPI fall on the month
