Inflation data out of China for April 2023
CPI +0.1% y/y, lowest since February 2021
- expected 0.4%, previous 0.7%
- and -0.1% m/m (expected 0.0%, previous -0.3%)
PPI -3.6% y/y, biggest drop since May of 2020, down for the 7th consecutive month
- expected -3.2%, previous -2.5%
- -0.5% m/m
Low inflation in China is no barrier to further economic stimulus, should that path be chosen.
