Chinese inflation for April is out and the CPI is unremarkable at 2.3% year on year, a little less than expected. What is much more interesting is the PPI which came in less weak at -3.4% versus -3.7% expected:
CPI internals are nothing to gawk at as food eases back a little:
April March Feb. Jan. Dec. Nov. Oct. YTD
2016 2016 2016 2016 2015 2015 2015 2016
==============================
———————— YoY% ————————
Consumer Prices 2.3% 2.3% 2.3% 1.8% 1.6% 1.5% 1.3% 2.2%
By Region
Urban 2.3% 2.3% 2.3% 1.8% 1.7% 1.5% 1.3% 2.2%
Rural 2.4% 2.2% 2.2% 1.5% 1.5% 1.3% 1.2% 2.1%
By Nature
Consumer Goods 2.5% 2.5% 2.6% 1.5% 1.5% 1.2% 1.0% 2.3%
Services 2.0% 1.9% 1.8% 2.2% 2.1% 2.1% 1.9% 2.0%
By Type
Non-food 1.1% 1.0% 1.0% 1.2% 1.1% 1.1% 0.9% 1.1%
Food 7.4% 7.6% 7.3% 4.1% 2.7% 2.3% 1.9% 6.6%
Ex. Food & Energy 1.5% 1.5% 1.3% 1.5% 1.5% 1.5% 1.5% 1.5%
Ex. Vege & Fruits 2.0% 1.7% 1.7% 1.6% 1.5% 1.4% 1.4% 1.7%
———————— MoM% ————————
Consumer Prices -0.2% -0.4% 1.6% 0.5% 0.5% 0.0% -0.3% n/a
The full text of this article is available to MacroBusiness subscribers
