China inflation data from May 2020
CPI 2.4% y/y, first time under 3% since August last year
- expected 2.7% y/y, April’s was 3.3%
- -0.8% m/m
- Food prices +10.6% y/y
- non-food +0.4% y/y
PPI -3.7% y/y … deeper deflation
- expected -3.3% , April was -3.1%
- -0.4% m/m