Oil and CPI
Bloomberg article on oil increases to move China's CPI a little higher. They cite April's muted figure.
Expect to see quite a bit on the effect of Oil on CPI knocking around. The conventional wisdom is that an increase in oil will increase CPI. However, as I reported on yesterday , research by the IMF found that recently the effects have been rather muted. In fact, in recent history, a 1% increase in oil prices, only translates into 0.07% into CPI.