Consumer Price Inflation and Producer Price Inflation for China

  • Due at 0130GMT

For the CPI:

  • expected 1.1% y/y, prior 0.9%

For the PPI:

  • expected 6.7%, prior 7.6%

I feel like I am a bit of a party pooper posting on this while the news is lit with 'Trump fires Comey' headlines.

Ah well, previews via ...


  • We forecast CPI inflation to have risen 1.2% y-o-y in April.
  • Food prices likely continued to contract, exerting downward pressures on the headline reading, although the pace of contraction likely eased.
  • We expect non-food inflation to have remained stable, although there were upward adjustments to domestic energy prices.
  • We forecast PPI inflation to have risen at a slower pace of 7.0% y-o-y compared with 7.6% in March, as a favourable base effect fades away. A slight rise in global commodity prices in April, coupled with an upward adjustment to energy prices likely provided support to PPI over the month


  • We expect CPI inflation to remain around 1% on subdued food prices, and forecast PPI inflation will ease to 6.8%, driven by declining input prices and fading base effects.
  • We expect total social financing to decline in April due to seasonal effects and a likely slowdown in off-balance-sheet lending, and forecast new loans will remain broadly stable at CNY1trn. M2 growth is likely to edge up on base effects.

Notice Barclays refer to the 'social financing' ... this is different data and is due sometime this week (I don't have a more precise timing that that) ... I'll have more on this soon.