China CPI and PPI inflation data due Monday 9 August 2021

Coming up at 0130 GMT are China’s inflation figures for July

CPI expected 0.8% y/y, prior 1.1%

  • the expectations for a lower rate of growth in prices is based on less upward pressure on food/agricultural prices

Meanwhile inflation at a producer level is expected to show no respite, PPI expected 8.8% y/y

  •  prior 8.8%
  • commodity prices have remained high, steel and coal notably so. These are key inputs to Chinese industry (steel for construction etc).
  • China has been making efforts to lower prices through various regulatory actions and releasing reserves from various stockpiles, July may mark a high water point and Ausgust PPI begin to turn down. That’s a month away though, … I’ll have more on this as we get closer in a few weeks. Meanwhile: 

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