China May CPI +0.3% y/y (expected +0.4%) and PPI -1.4% y/y (expected -1.5%)

CPI and PPI data from China's National Bureau of Statistics (NBS) for May 2024

CPI -0.1% m/m

• prior +1.0%

CPI +0.3% y/y

• expected +0.4%, prior +0.3%

PPI +0.2% m/m

• prior %

PPI -1.4% y/y

• expected -1.5%, prior -2.5%
• a significant change from April's number this, a much slower pace of deflation - it'll be read as a sign that government efforts to support China's economy are beginning to show 'green shoots'

more to come