China inflation figures for April: CPI 0.9% y/y (vs. expected 1.0%) & PPI 6.8% y/y (expected 6.5%)

China inflation (April) much more at the producer level than consumer level, for now at least:

China CPI 0.9% y/y

• expected 1.0% y/y, prior 0.4%

• for the m/m -0.3% (expected -0.2%, prior -0.5%

PPI 6.8% y/y, highest since October 2017

• expected 6.5% y/y, prior 4.4%

• for the m/m, +0.9%

more to come