China CPI likely to be mild in the months ahead says ANZ

Chinese inflation data for February (CPI and PPI) is here:

• China: February CPI 2.3% y/y (expected 1.8%) & PPI -4.9% y/y (expected -4.9%)

and more on it here

• China CPI and PPI ... No, this isn't great data

Comments from ANZ:

• Rise in food prices likely to be temporary
• Inflation will remain mild in months ahead
• "Daily wholesale food prices show that prices have moderated slightly in early March"
• "Non-food CPI edged down to 1.0 percent year-on-year in February, 0.2 percentage points lower than that in January, reflecting disinflation in the other components of the CPI"