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Market News Topics
October 16, 2017 02:03 GMT
REPEAT:China CPI As Expected on Food; PPI Jumps Above Expected
Repeats Story Initially Transmitted at 02:03 GMT Oct 16/22:03 EST Oct 15
BEIJING (MNI) - Data released Monday by the National Bureau of Statistics
on China's Consumer Price Index (CPI) and Producer Price Index (PPI):
CPI PPI
------------------------------------------
September 1.6 6.9
Forecast Median 1.6 6.3
Previous 1.8 6.3
All figures year-over-year % change unless otherwise indicated
FACTORS:
Sep Aug
---------------------------------------------
CPI m/m +0.5 +0.4
Food price y/y -1.4 -0.2
Non-food price y/y +2.4 +2.3
PPI m/m +1.0 +0.9
CONSUMER PRICE INDEX
China's Consumer Price Index rose 1.6% year-on-year in September,
decelerating from the 1.8% gain in August, in line with the MNI survey median
forecast for a 1.6% rise.
Food prices fell 1.4% y/y in September, the eighth decline in a row and the
largest decline since May (-1.6%). The September drop was much sharper than the
0.2% y/y drop in August.
Non-food prices rose 2.4% year-on-year in September, the highest rate since
April (also 2.4%), accelerating slightly from the 2.3% rate posted in August.
The CPI rose 0.5% m/m last month after a 0.4% rose in August. CPI has risen
m/m for three consecutive months after dropping four of the previous five
months.
PRODUCER PRICE INDEX
China's Producer Price Index accelerated to 6.9% year-on-year in September,
the highest rate since March (7.6%), from 6.3% in August. The rise was largely
unexpected, with MNI survey median forecast calling for an unchanged rate of
6.3%.
September marks the 13th consecutive month that the PPI rate has been
positive since it exited negative territory in September 2016.
On a month-over-month basis, the PPI rose 1.0% in September compared to a
0.9% gain the month before. September PPI rose m/m for the third consecutive
month after falling each of the previous three months.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
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