China March CPI 0.7% y/y (vs. expected 1.0%)

China inflation data for March 2023

CPI 0.7% y/y

• expected 1%, prior 1%
• and for the m/m -0.3% (prior -0.5%)

PPI -2.5% y/y

• expected -2.5%, prior -1.4%
• 0.0% m/m

This data will leave plenty of room for stimulus efforts. New Premier Li Qiang will be very happy.