China inflation figures for January
CPI in at higher than expected 5.4%
- expected 4.9% y/y, prior 4.5%
- fastest increase since October of 2011
- for m/m, up 1.4%
- food inflation rocketing +20.6% y/y, non food +1.6% y/y
- pork prices +8.5% m/m (they fell 5.6% in December) - up more than 100% y/y
- core CPI +1.5% y/y (exclules food and energy) from 1.4% in December
PPI +0.1% y/y
- expected 0.0% y/y, prior -0.5%
- for m/m 0.0%
- first increase in 7 months