April 2025 inflation data from China was slipped out over the weekend while everyone was looking at Geneva (US-China initial trade talks)
CPI:
- -0.1% y/y (expected -0.1%, prior -0.1%)
- +0.1% m/m (prior -0.4%)
- Core (ex food and energy) unchanged at +0.5% y/y
PPI
- -2.7% y/y (expected -2.8%, prior -2.5%)
- PPI has been in deflation for more than two years
Graph from Goldman Sachs doing the social media rounds
