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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 AccessMNI 5 THINGS: China PPI Y/Y Growth Higher Than Expectated
By Iris Ouyang
BEIJING (MNI) - China's National Bureau of Statistics released consumer
price index (CPI) and producer price index (PPI) data for June on Tuesday. Here
are five things MNI highlights:
- PPI gained 4.7% year over year, higher than the 4.5% median in an MNI
survey in which 19 forecasters participated. The PPI growth in June was the
highest since the 4.9% recorded in December, accelerating from 4.1% growth in
May.
- The higher-than-expected growth was supported by strong gains of
commodity prices; and sectors such as gasoline and natural gas mining, smelting
and flattening of both ferrous and non-ferrous metals, chemical raw materials
and manufacturing, coal mining saw strong price growth.
- On a monthly basis, PPI climbed 0.3% in June, lower than the 0.4% m/m
reading in May. Slowing monthly growth of production costs of major commodities,
including gasoline, coal and natural gas, helped rein in the PPI monthly growth.
- CPI increased 1.9% in June on an annualised basis, in line with MNI
survey expectations, from 1.8% in May. It was the highest since the 2.1% growth
in March. A slightly faster growth of food price to 0.3% from 0.2% and a flat
non-food price growth of 2.2% helped buoy the y/y CPI gain.
- CPI declined 0.1% month-on-month, a slight pick-up from the 0.2% drop in
May. A drop in food prices, including fruits (down 6.7%) and vegetables (down
1.8%), contributed to the decline, despite a rebound of pork at 1.1% after a
three-month decrease.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
[TOPICS: M$A$$$,M$Q$$$]
To read the full story
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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.