China July CPI 2.1% (vs. expected at 2.0%)

China inflation CPI comes in slightly above median estimate at 2.1% y/y

• expected 2.0%, prior 1.9%
• food CPI 0.5% y/y, non-food 2.4% y/y
• for the m/m, comes in at +0.3%
• 'Core' CPI (excl. food and energy) 1.9% y/y in July, unchanged from June

Chinese authorities have targeted CPI around 3% for 2018, so running below at this stage. As so many economies are.

PPI 4.6% y/y

• expected 4.5%, prior 4.7%
• for the m/m +0.1%

more to come