China CPI
- Prior month CPI YoY 0.0%
- Prior month CPI MoM -0.2%
- China CPI MoM for July 0.2% vs -0.1% expected
- China CPI YoY for July -0.3% vs -0.4% expected
- China PPI YoY for July -4.4% vs -4.1% expected. Prior month -5.4%
The YoY falling below 0.0% is the first since February 2021. There is little reaction to the mixed inflation data.
The fall below 0.0% in CPI and PPI is the first since 2020, but China NBS says the decline in CPI is only temporary.
The offshore yuan rose (USDCNH lower) after the lower fixing for the USDCNY. The USDCNH is now moving to a new low after a brief bounce after the data.
USDCNH falls further after yuan fixing