China inflation data for October. Both CPI and PPI are higher than estimates.

China CPI 1.5% y/y, rising at its quickest since September 2020

  • expected 0.7% y/y, prior 0.0%
  • +0.7% m/m
  • China's Stats authority (National Bureau of Statistics, NBS) says CPI impacted by weather, commodity demand, cost.

PPI 13.5% y/y, this is the highest since the NBS began this data point in October 1996

  • expected 12.4% y/y, prior 10.7%
  • +2.5% m/m
  • NBS cites tight supply in energy and materials

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Background to this: