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Chinese inflation numbers are out and the news is easy on the eyes with the CPI up slightly to 2.4% y/y in April, from March’s 2.1%, slightly higher than market expectations of 2.3% and in a gentle up trend:
More concerning for me and Australia is that the PPI declined by 2.6% y/y in April, compared with -1.9% in March and continues to signal a lackluster industrial recovery with little pricing power.
Here is the data breakdown courtesy of ANZ:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.