• -0.5% prev

      • yy +1.5% vs +1.6% exp vs +1.4% prev
      • food CPI+2.7% yy
      • non-food +0.9% yy
      • PPI -0.3% mm
      • yy +4.6% vs 4.4% exp

Data out overnight and showing a softer mont-to-month but upward move from last month year-to-year in CPI while PPI posts its 37th consecutive decline

Although falling short of expectations in the key year-to-year reading Aussie $ may benefit initially on the Asia open from the firmer CPI as it would indicate less room for the PBOC to ease even if they want to.

They are certainly concerned over deflationary pressures and have said that 1% would be the red line if CPI dropped below that

China CPI yy % change