CPI and PPI both reflect weak demand in China. Both dropping from the May y/y figure.
June CPI 0.0% y/y
- expected +0.2%, prior +0.2%
- for the m/m -0.2%
June PPI -5.4% y/y ... wholesale level deflation digs itself deeper into the hole
- expected -5%, prior -4.6%
- for the m/m, -0.8%
USD/CNH popped on the data:
