China inflation figures for July 2022
China CPI 2.7% y/y (and 0.5% m/m)
- expected 2.9% y/y, prior 2.5%
PPI 4.2% y/y (and -1.3% m/m)
- expected 4.8%, prior 6.1%
Chinese authorities will not be hampered by above-target inflation, according to these official data, if they wish to inject more fiscal &/or monetary stimulus into the economy.