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Chinese inflation data, both CPI and PPI, for August 2024.
- The m/m PPI is -0.7% (prior -0.2%)
The CPI is a slight miss on both the y/y and m/m. But the PPI is a shocker of a miss on both.
Real rates in China re weighing on demand. And yet the People’s Bank of China is slow to bring them down. The Bank had been concerned about a weakening yuan and potential large-scale capital flight. but the rise for the yuan seems to give them breathing room. However, they’ve done little with it, so far at least.
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