China CPI February: 2.9% y/y (vs. expected 2.5%) PPI 3.7% y/y (3.8%)

China - inflation data for February

CPI 2.9% y/y

• expected 2.5%, prior 1.5%

PPI 3.7% y/y

• expected 3.8%, prior 4.3%

As with all China data for January and February, may be LNY distortions! Indeed, comments from the Stats people in China on the results - say to expect a lower CPI in March as holiday factors fade

For m/m results:

• CPI +1.2%
• PPI -0.1%

PPI was expected to ease, yes they have, by a tad more than expected

CPI was expected to be higher ... and it is by a lot more than expected

As I posted in the preview earlier:

• While the CPI is likely to be up, based on rising price for food during the period, The PPI will likely come lower a little (PMIs show a slip in producer pricing)