CPI and PPI data for September is due from China at 0130GMT

  • CPI expected 2.5% y/y, prior 2.3%
  • PPI expected 3.6%, prior 4.1%

Previews are thin on the ground, and what there are are … thins.

Barclays:

  • We expect the Sep. CPI edged higher to 2.5% y/y
  • and PPI moderated to 3.8% y/y

Nomura:

  • We expect both CPI and PPI inflation to moderate in September, as implied by weak high-frequency data and a high base last year. Notably, vegetable price indices in Shouguang - one of China's major vegetable production bases, hit by flooding in August - have started to stabilise in recent weeks.

HSBC:

  • We forecast CPI inflation of 2.7% y-o-y in September, up from 2.3% y-o-y in August. Food prices likely continued to rise at a faster pace, reflecting the lagged impact of weather disruptions and swine fever. Meanwhile, the NDRC adjusted retail gasoline prices higher in September, which likely also put upward pressure on the headline reading.
  • We forecast PPI inflation of 3.6% y-o-y in September compared with 4.1% in August. The price indices in the latest PMI readings indicate that raw material prices remain elevated, likely leading to upward pressures on producer prices