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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessCPI & PPI On Tap Tomorrow, Consumer Inflation Expected To Tick Higher
A reminder that China CPI and PPI for January print tomorrow. The market expects a 2.1% Y/Y for CPI, versus 1.8% prior. Note the range of forecasts is 1.9-2.7% for CPI. For the PPI, we are expected to remain in deflation at -0.5% Y/Y (prior -0.7%, while the forecast range is -0.1% to -1.0%).
- There is likely to be more focus on CPI trends. Outside of food prices, domestic price pressures have been benign owing to a weak domestic demand backdrop. China core inflation ran comfortably below 1% y/y through the second half of last year.
- These trends likely started to change in January amid reports of stronger spending and recreational activity, particularly over the LNY period.
- So, the market may look at these trends for a sign of how firm domestic demand was in the first month of the year.
- It may also be a factor in thinking about any further easing steps from the authorities. A prominent China economist was on the wires today stating policy rates could be lowered in Q2 (see this link for more details).
- For PPI we are expected to remain in deflation, with China related commodity prices divergent in the first month of the year.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.