Inflation data from China for May 2021
CPI 1.3% y/y
- expected 1.6% y/y, prior 0.9%
- food prices expected to fall, pork prices continue to plunge
- for the month/month -0.2%
PPI 9.0% y/y, higher than the median estimate and fastest since 2008
- expected 8.5%, prior 6.8%
- impacted by rising commodity prices
- for the m/m, +1.6%
Consumer-level inflation down a little but producer level inflation up very quickly indeed. PPI not flowing through to CPI this month at least though.