China October CPI 1.5% y/y and PPI 13.5% y/y - both higher

China inflation data for October. Both CPI and PPI are higher than estimates.

China CPI 1.5% y/y, rising at its quickest since September 2020

• expected 0.7% y/y, prior 0.0%
• +0.7% m/m
• China's Stats authority (National Bureau of Statistics, NBS) says CPI impacted by weather, commodity demand, cost.

PPI 13.5% y/y, this is the highest since the NBS began this data point in October 1996

• expected 12.4% y/y, prior 10.7%
• +2.5% m/m
• NBS cites tight supply in energy and materials

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Background to this:

• China inflation data due today - preview. PPI expected to continue its surge, and CPI beginning to move.