China CPI
  • CPI -0.5% vs -0.1%
  • Prior was -0.2%
  • CPI m/m -0.5% vs -0.1% expected
  • Prior was -0.1% m/m

This report underscores how much space that China has for monetary policy easing but also underscores how sluggish the post-covid economy has been. Mixed in with that has been remarkably strong demand for iron ore, which is hard to square with a construction slowdown. As always, China's economy remains a mystery.

  • PPI -3.0% y/y vs -2.8% expected
  • Prior PPI -2.6% y/y