Both CPI and PPI have come in higher than the consensus estimate.
China CPI 2.1% y/y
- expected 1.8%, prior 1.5%
- for the m/m +0.4% (expected +0.2%, prior 0.0%)
PPI 8.0% y/y
- expected 7.7% y/y, prior 8.3%
- m/m is +0.6%
Despite the higher than expected CPI its still well within the PBOC target range and thus leaves plenty of space for further monetary policy easing steps.
