China's October data - wholesale inflation fell for the first time since December 2020

The data from China for inflation in October is here:

• China October CPI 2.1% y/y (expected 2.4%) & PPI -1.3% y/y (expected -1.5%)

Reuters have a bit of a recap posted with some more info. On the PPI they add:

• China's factory gate prices for October dropped for the first time since December 2020, underlining faltering domestic demand and disruptions to production amid strict COVID-19 measures and a sluggish property sector

All of those factors cited are well-known and discussed. None of them seem to be improving much at all though.

Earlier re China:

• A major Chinese developer sold off landmark US property at "a steep loss"
• China has further expanded its support for ailing property developers

I'm not sure how much support we can expect for the Chinese economy. I posted this on the Congress recently concluded:

• There are expectations China will pivot away from a nearly exclusive focus on economic development to more security-related priorities.