China March CPI: 4.3% y/y (vs. expected 4.9%)

Inflation data from China, for March

CPI 4.3% y/y (food prices are up 18.3% y/y)

• expected 4.9% y/y, prior 5.2%

PPI -1.5% y/y … the deflationary impact of the shutdown is weighing on PPI (its not the only factor but a biggie)

• expected -1.1% y/y, prior -0.4%

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For the oil folks, the latest from OPEC … the meetings will continue on Friday!

• Mexico has rejected the oil production deal - talks will continue on Friday